Gilead VP of Commercial Operations to retire


Gilead (GILD) Executive VP of Commercial Operations Kevin Young, who's in charge of sales, announced his retirement late yesterday after ten years in the job.

Young has presided over the launch of eight treatments, including the HIV Truvada combo, while revenue has soared to $10B in 2012 from $1.24B in 2004.

The timing of Young's departure could be a bit awkward, as Gilead recently received approval to launch Sovaldi, a potential blockbuster treatment for Hepatitis C.

The Street's Adam Feuerstein notes that Young has sold $17M in stock since August, while the top five managers have offloaded almost $220M worth of shares, a sum that "is just too big to ignore."

Says a hedge a fund manager: "The bigger question is whether there's a motivation issue at Gilead. The top executives are all insanely rich."

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Comments (1)
  • rcpatrick5443
    , contributor
    Comments (837) | Send Message
     
    "The timing of Young's departure could be a bit awkward, as Gilead recently received approval to launch Sovaldi, a potential blockbuster treatment for Hepatitis C." Non sequitur of the year?
    7 Jan 2014, 10:02 AM Reply Like
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