CFO Transition Planned Through 2012
NOVATO, Calif., Feb. 21, 2012 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today that Jeffrey Cooper, Senior Vice President and Chief Financial Officer, plans to leave the company. He will stay in his current role through the middle of the year and then transition to an advisory role until the end of 2012.
"I am very proud to have been a part of this growing company for the last eight years and to have seen the evolution of BioMarin into a strong fully-integrated biotechnology company with four growing commercial products and a promising R&D pipeline," stated Jeff Cooper, Chief Financial Officer of BioMarin. "I look forward to continuing my support of BioMarin during this transition period in 2012, and beyond that, applying my knowledge and skills to assist with development stage biotechnology companies."
"On behalf of BioMarin and the Board of Directors, I would like to thank Jeff for over eight years of dedicated service to the company," stated Jean-Jacques Bienaimé, Chief Executive Officer of BioMarin. "In that time, Jeff has overseen the financial operations of the company as we increased revenues from $12 million in 2003 to over $440 million in 2011 and raised over $650 million in financing. The finance and accounting team under Jeff's leadership is very strong and capable with many experienced and long-term employees. With the planned transition expected to start mid-year, we will be well-equipped to face the exciting challenges of accelerated growth in the coming years."
Mr. Cooper joined BioMarin in October 2003 as Vice President, Controller, and was promoted to the position of Chief Financial Officer in August 2005. Prior to BioMarin, he served as Vice President of Finance at Matrix Pharmaceutical where he worked for six years. Earlier in his career, Mr. Cooper held numerous finance-related positions within the health care and pharmaceutical industries, including Corporate Controller at Foundation Health Systems and Director of Business Analysis at Syntex Corporation, a company he worked for from 1983 to 1995.
The company is initiating a search for a new Chief Financial Officer and hopes to complete the search in the second quarter of 2012.
BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises four approved products and multiple clinical and pre-clinical product candidates.