The MedImmune Man Leaves AstraZeneca

Make a comment

david-mott-2A year after negotiating to sell MedImmune to the big drugmaker for about $15 billion, David Mott is leaving next week for unspecified reasons, according to a statement. Although Mott vowed to remain after the purchase was completed, this month marks the one-year anniversary since the consummation, so perhaps this is not entirely surprising.

You may recall that Mott was scheduled to receive more than $145 million in cash after the deal was completed - $133.5 million in exchange for the cancellation of already vested stock options and other options that hadn’t yet vested, and the remainder to cover change-of-control payments for bonuses, incentives, tax gross-ups and severance payments. AstraZeneca’s US ceo, Tony Zook, will assume Mott’s job for the time being.

Jump to comments

Share

Comments are closed.

Subscribe

RSS Feed

Comments feed for this post only.

Clear

Clear

© 2007- 2008 Newark Morning Ledger Co.  All Rights Reserved.

Thanks for trying out the new Pharmalot printing tools. If you're got any suggestions for how we can help you print better, please let us know by clicking on the contact link at http://www.pharmalot.com/