Akebia's Chief Commercial Officer Resigns Effective November 6, Then Moves To A Paid Consulting Role
Nicholas Grund will advise Akebia through April 30, 2027 at an hourly rate, according to an 8-K filed Wednesday.
Akebia Therapeutics' chief commercial officer, Nicholas Grund, is resigning effective November 6, the company said in an 8-K filed Wednesday. He will stay on as a paid consultant until April 30, 2027.
What the 8-K says
Grund, Akebia's senior vice president and chief commercial officer, told the company on October 7 that he had decided to resign for personal reasons. The filing, an 8-K (the report a public company files to disclose a material event), lists November 6 as his last day as an employee.
On October 13, Grund and Akebia signed a consulting agreement that takes effect on that resignation date. Under it he will provide consulting and advisory services to the company until April 30, 2027.
The filing says he will be paid an hourly rate for the work. It does not state the rate in the text of the report.
Either side can end the arrangement early. Akebia must give at least 10 days' prior written notice, while Grund must give at least 30 days' prior written notice.
What it changes
The commercial chief's seat will be open after November 6, and the filing names no successor. John P. Butler, Akebia's president and chief executive officer, signed the report.
For holders, the filing describes a departure with a consulting bridge rather than a clean exit. Grund's advisory role is designed to run well past his last day as an employee.
Akebia shares closed at $0.77 at Tuesday's close, down 2.56% from the prior session, before the filing was accepted on Wednesday morning. The prior session's close was $0.7902.
What to watch
The next item is who Akebia names to lead its commercial operations, ahead of Grund's November 6 departure date.
Grund's last day as an employee is November 6, and his consulting agreement runs to April 30, 2027 unless one side ends it sooner.
Sources
- 8-K Filing — Akebia Therapeutics, Inc. (AKBA) — SEC EDGAR
