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Tuesday, Sep 26, 2023

Amgen Announces CFO Transition

Thousand Oaks biotech giant Amgen Inc. late Tuesday announced David Meline, 62, will retire as chief financial officer at the end of the second quarter next year. Meline has been with the company since 2014; prior to joining Amgen, he was CFO at Minnesota-based 3M, the multinational manufacturing company, and served as CFO at General Motors North America. “David has played an essential role in the enterprise-wide transformation that has enabled Amgen to deliver outstanding financial performance to our shareholders, while also investing heavily in new product launches, research and development, and global expansion,” said Robert Bradway, chief executive of Amgen. Peter Griffith, a new hire currently in the role of executive vice president for the company’s finance team, will be Meline’s successor as of Jan. 1. Griffith joins Amgen from Sherwood Canyon Group, a private equity and advisory firm in Los Angeles, where he served as president. Griffith also has nearly 22 years of experience as a partner at EY. “A hallmark of Amgen’s nearly 40-year history has been well-planned transitions of key leadership roles,” Bradway added. “I am delighted to welcome Peter to Amgen. His extensive global experience and financial skills will be instrumental to our strategy for investing in innovation to drive long-term growth.” Meline will remain at the company into the second quarter of next year to help Griffith with the transition, the company said in a statement. Shares of Amgen (AMGN) closed Tuesday down $1.51, or less than 1 percent, to $203.32 on the Nasdaq.

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