– USA, CA – MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced that on February 17, 2016 MannKind received notice from Alfred E. Mann that he was resigning as Executive Chairman and as a board member effective immediately. On February 18, 2016, the directors of MannKind named Kent Kresa as Chairman of the Board and also named Mr. Mann as Chairman Emeritus of MannKind. Mr. Mann will continue to advise the Company as an employee in a non-executive capacity.
“Al founded this company in order to bring his unique flair for medical innovation to the biopharmaceutical space,” said Matthew Pfeffer, Chief Executive Officer of MannKind Corporation. “We are awed by his many accomplishments during a legendary career and are proud to continue Al’s decades-long pursuit of addressing the unmet needs of patients with diabetes and other serious illnesses.”
“Al is a true visionary and has created a great company with an impressive lead product and powerful technology to help patients with serious diseases,” said Kent Kresa, Chairman of MannKind Corporation. “We have much to do to make his dreams a reality, but we have the people, technology and know-how to make that happen.”
Kent Kresa has been a director of MannKind since June 2004 and was named Lead Director in November 2011. Mr. Kresa is Chairman Emeritus of Northrop Grumman Corporation, having previously served as its Chairman and Chief Executive Officer. Mr. Kresa also served on the boards of General Motors Company, Avery Dennison Corporation (including as Chairman) and Fluor Corporation. Mr. Kresa has been a member of the Caltech Board of Trustees since 1994, and he also serves on the boards of several non-profit organizations and universities. As a graduate of Massachusetts Institute of Technology, he received a B.S. in 1959, an M.S. in 1961, and an E.A.A. in 1966, all in aeronautics and astronautics.
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes.
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