STOUGHTON, Mass., May 09, 2024 (GLOBE NEWSWIRE) — Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions, today announced that effective May 24, 2024, Joe Ciaffoni will step down as President and Chief Executive Officer (CEO) of the Company. Mr. Ciaffoni will serve as a member of the Board of Directors of the Company until the upcoming 2024 Annual Meeting of Shareholders and will not stand for re-election at the meeting. To ensure a seamless transition, Michael Heffernan, founder, former CEO and Chairman of the Board will serve as Interim President and CEO until a new CEO is appointed by the Board of Directors.
“In my time at Collegium, I have worked with an exceptional group of colleagues. I am proud of our collective accomplishments that made positive impacts on the lives of people living with serious medical conditions and the communities we serve while creating value for shareholders,” said Mr. Ciaffoni. “Collegium is well positioned with a strong leadership team to recognize additional growth and success.”
“On behalf of our entire Board, I want to thank Joe for his leadership, commitment and innumerable contributions to our company over the course of his career at Collegium,” said Mr. Heffernan. “The Company is financially strong and well positioned to continue its successful track record of creating shareholder value through disciplined capital deployment. With a strong first quarter, Collegium is on track to achieve its 2024 financial guidance and has a strong executive leadership team that is poised to drive the business forward.”
Gino Santini, Lead Independent Director of the Collegium Board of Directors, added, “The Board is focused on ensuring a seamless transition and identifying the right successor to lead Collegium in its next chapter. As former CEO and founder of the Company, Mike is well suited to lead Collegium through this transition period. We are moving quickly and have already begun a comprehensive search for our next CEO.”
About Collegium Pharmaceutical, Inc.
Collegium is a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions. Collegium’s headquarters are located in Stoughton, Massachusetts. For more information, please visit the Company’s website at www.collegiumpharma.com.
