When a company makes a key appointment then it usually has an effect on its stock and shows how the market has taken the news. This brings us to the subject of the Ziopharm Oncology Inc (NASDAQ:ZIOP) stock, which tanked by as much as 7% after the company announced the appointment of its new Chief Executive Officer in the form of Kevin S. Boyle Sr yesterday.
The appointment went into effect yesterday but it was clear that the market did not quite welcome the news. In addition to that, Ziopharm also announced that the interim CEO, Heidi Hagen, is going to go back to her original position on the Board of Directors at the company.
In addition to that, it is also necessary to note that Boyle has also been added to the company’s board. Boyle is a highly experienced executive and his experience in leading companies in the middle of transformation spans over two decades. However, that is not all. Boyle is also a seasoned operator in the capital markets and has strong relationships with the major players. Over the course of his career so far, he has helped in raising more than $2 billion in the form of both debt and equity.