Gilead Sciences (GILD) stock has been on a somewhat downward trajectory these past few years and many investors are concerned this is a long term trend.
Gilead Sciences announced that its board of directors has appointed Daniel O’ Day as the company’s chairman and chief executive officer (CEO). O’Day will take over the reins on Mar 1, 2019. Meanwhile, the board appointed Gregg Alton as interim CEO for the period of Jan 1 to Mar 1, 2019.
While it is good news that the new CEO will be joining, many wonder whether this is enough to change the direction of GILD stock prices.
O’Day is the CEO of the pharmaceutical arm of Roche since 2012. The appointment of a veteran leader like O’Day should relieve wary investors as the new CEO will bring leadership experience across multiple therapeutic areas, which is much needed at Gilead. The company has been facing turbulent times lately, and hence O’Day has a tough job in his hands.