Alfred E. Mann has resigned as executive chairman and as a board member of MannKind, effective immediately. MannKind named Kent Kresa as chairman of the board and also named Mann as chairman emeritus of MannKind. Mann will continue to advise the company as an employee in a non-executive capacity.
"Al founded this company in order to bring his unique flair for medical innovation to the biopharmaceutical space," said Matthew Pfeffer, chief executive officer of MannKind. "We are awed by his many accomplishments during a legendary career and are proud to continue Al's decades-long pursuit of addressing the unmet needs of patients with diabetes and other serious illnesses."
"Al is a true visionary and has created a great company with an impressive lead product and powerful technology to help patients with serious diseases," said Kent Kresa, chairman of MannKind. "We have much to do to make his dreams a reality, but we have the people, technology and know-how to make that happen."
Kresa has been a director of MannKind since June 2004 and was named lead director in November 2011. Kresa is chairman emeritus of Northrop Grumman, having previously served as its chairman and chief executive officer. Kresa also served on the boards of General Motors, Avery Dennison (including as chairman) and Fluor. Kresa has been a member of the Caltech Board of Trustees since 1994, and he also serves on the boards of several nonprofit organizations and universities.