LXRX - Lonnel Coats Retires as Chief Executive Officer and Board Member of Lexicon Pharmaceuticals | Benzinga
THE WOODLANDS, Texas, April 29, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced that Lonnel Coats has provided notice of his retirement as chief executive officer and as a member of its board of directors, in each case effective July 7, 2024, his 10th anniversary with the company. The board of directors has initiated a search for a new chief executive officer which will consider both internal and external candidates.
"During Mr. Coats' tenure, Lexicon advanced two compounds through clinical development and into market, multiple programs into late-stage development and numerous compounds from discovery into development", said Ray Debbane, the chair of Lexicon's board of directors. "It is under his leadership that Lexicon transformed from a scientific platform company into a fully integrated biopharmaceutical business. Equally important, he has assembled a tremendous management team that is well positioned to carry forward his leadership and the company's mission."
"I am truly blessed to have had the opportunity to spend the last decade leading this remarkable company," said Mr. Coats. "I have had the privilege to work with an outstanding board which has been consistent in its support and dedication to the long view of value creation for the company. Most importantly, it's been such an honor to work with so many dedicated and talented team members at every level of the company. They are the real heartbeat of Lexicon and I am confident ...