Verastem, Inc. [VSTM] - appoints Michael Bailey as CEO
Effective January 1, 2027, Michael Bailey will succeed Daniel W. Paterson as President and Chief Executive Officer of Verastem, Inc., while Paterson will remain on the Board as a Class III director.
Why this matters
Verastem, Inc., a Massachusetts-based pharmaceutical company, focuses on developing and commercializing treatments for cancer, particularly targeting KRAS-mutated tumors. The company announced that Michael P. Bailey will assume the roles of President and Chief Executive Officer effective January 1, 2027, succeeding Daniel W. Paterson, who is retiring as CEO but will remain on the Board as a Class III director. This transition is part of a planned succession strategy, with Bailey bringing over 30 years of biopharma industry experience, including extensive expertise in oncology drug development and commercialization.