Revance CEO Dan Browne steps down due to ‘misjudgment in handling employee matter’

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Revance CEO Dan Browne steps down due to 'misjudgment in handling employee matter'


Biotech Revance Therapeutics Inc.
RVNC,
-1.69%
said Monday it has named Mark J. Foley as chief executive, replacing Dan Browne who has stepped down due to a misjudgment in handling an employee matter. Browne has also resigned from the company’s board, according to a statement. It did not provide further details of the reason for his departure, but said it is not related to the company’s operational performance, “which continues to be strong.” The company remains on track to file its Biologics Licensing Application submission for DaxibotulinumtoxinA for Injection for the treatment of glabellar (frown) lines in the fall.Foley has been a board member for two years and has more than 25 years of operational and investment experience in the health care arena, servicing as chairman, president and CEO of Zeltiq Aesthetics from 2012 to 2017. Revance specializes in neuromodulators for aesthetic and therapeutic indications. Shares were not yet active premarket,but have fallen 39% in 2019, while the S&P 500
SPX,
-0.06%
has gained 18%.



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