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Benzinga
Benzinga
Technology
Vandana Singh

Amid Domestic Violence Allegation, Longtime Seagen CEO Takes Leave of Absence

Seagen domestic violence SGEN Board of Directors Nasdaq Seagen Inc
  • The Board of Directors of Seagen Inc (NASDAQ:SGEN) announced that its long-time president, CEO, and chairman Clay Siegall, is on a leave of absence.
  • The move follows an alleged incident of domestic violence.
  • While Siegall, who informed the company that he's in the middle of a divorce, denied those allegations.
  • The Seagen board of directors formed a committee to investigate with the help of a law firm.
  • Roger Dansey, Chief Medical Officer since 2018, will step in as interim CEO.
  • Related: Read Why This Analyst Is 'Encouraged' By Seagen's Q1 Sales.
  • "We have high standards for employee conduct. We condemn domestic violence in all its forms. We are treating these allegations with the utmost seriousness," Nancy Simonian, chair of Seagen's nominating and corporate governance committee. 
  • "At this time, the facts are still uncertain, and our decisions will be guided by the outcome of our investigation."
  • Price Action: SGEN shares are down 14% at $106.21 during the market session on the last check Monday.
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