Daniel O’Day is likely to joint Gilead Sciences sometime in 2019; a formal date has not been set.
According to a source familiar with the matter at hand, Gilead Sciences Inc, a drugmaker, will appoint Roche Holding AG’s Daniel O’Day as its new chief executive officer.
The announcement of could come as early as sometime today.
So far Gilead Sciences has not disclosed when O’Day, currently Roche Pharmaceuticals’ CEO, will assume his role in the company.
The development comes nearly after four months after Gilead’s reported that its CEO John Milligan and Chairman John Martin would be stepping down from their respective roles at the end of 2019.
Martin, who preceded Milligan as Gilead CEO, said he planned to leave the board when a new CEO joins the company.
Following the announcement of their departures in July, as of Friday’s close, Gilead’s shares were down by around 14%.