Grail CEO Bob Ragusa to retire, Josh Ofman named successor
March 12 (Reuters) - Cancer test maker Grail GRAL.O said on Thursday that chief executive Bob Ragusa will retire effective June 1, and the company's president, Josh Ofman, will take over the helm.
Here are some details:
Ragusa, who became CEO in 2021, has overseen the cancer test maker's transition into an independent company after being spun out of gene sequencing company Illumina ILMN.O.
Ofman, who held previous senior roles at Amgen and other healthcare organizations, has been central to advancing its flagship cancer-detection test, Galleri, the company said.
The leadership transition comes at a critical juncture for Grail as disappointing trial results for Galleri cast doubt on the test's commercial prospects.
Last month, the company said routine screening with Galleri failed to significantly boost early detection or reduce late-stage diagnoses in a pivotal three-year UK trial.
"(The CEO change) has been in development for some time and is unrelated to the NHS trial readout," said Guggenheim analyst Subbu Nambi.
Ragusa will remain on Grail's board until his retirement date and is expected to serve in a senior advisory capacity through March 2027, the company said.
