Tag: Leadership

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Spotlight: Celebrating Jim Alexander’s Dedication to Leadership and Mentorship

We are excited to feature Executive Vice President, Jim Alexander, a 10-year veteran of retained search with Strawn Arnold with over 30 years in leadership roles in the pharmaceutical industry, academia, and professional organizations.

Jim is proud of his Midwest heritage and is an alumnus of the University of Nebraska where he earned his Doctorate degree in pharmacy. He began his career journey with Warner-Lambert/Parke-Davis moving through leadership roles on the commercial side, eventually rising to Vice President of Corporate Development and Licensing.

Jim moved to academia to become the first Director of the Rutgers Institute for Pharmaceutical Industry Fellowships. During this professionally rewarding 10-year period of his industry-focused career, he was responsible for the administration of the premier Post-Doctoral Fellowship Program for pharmacists and trained, mentored, and helped place hundreds of PharmDs who are now working throughout the entire pharmaceutical/biopharma industry. Jim is also the founder of the Industry Pharmacists Organization, the first professional organization designed exclusively for industry-based pharmacists, which has successfully evolved into a well-known PharmD talent pipeline for the pharmaceutical industry.

Jim entered the field of Executive Search to build on his passion for helping professionals advance their careers. “I really enjoy mentoring professionals, advocating for them, and helping them find the next role in their career progression. I feel fortunate to be working with great clients and the Strawn Arnold team has been an ideal home for my search career activities since the day I joined the firm 10 years ago.”

Jim’s passion for mentoring and his extensive contributions to the pharmaceutical industry have greatly enriched our team and clients. Join us in honoring his outstanding achievements and dedication at Strawn Arnold!

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We’re Hiring!

We’re hiring a new Generic Pharmaceutical Portfolio Management Leader in United States. Apply today or share with your network.

https://tinyurl.com/mry3e7cu

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Placement Announcement

We are excited to share the announcement that Alan Bash has been appointed as the new President of CARVYKTI at Legend Biotech. His extensive experience in oncology and leadership roles at prominent biotech companies, including his recent tenure as CEO at ZielBio, positions him perfectly to enhance Legend’s impact in the treatment of Multiple Myeloma. https://lnkd.in/eCKW6t3S

Congratulations to Alan and the entire Legend Biotech team from Strawn Arnold! We look forward to seeing the growth that will emerge under Alan’s leadership.

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Strawn Arnold at 50 Years: Reflections and Lessons Learned Along the Way

As we celebrate the 50th anniversary of Strawn Arnold and thousands of outstanding candidates placed at some of world’s most important companies, it’s a moment to reflect on the journey we’ve taken, the lessons learned, and the impact we’ve made in life sciences. This milestone is not just a testament to our longevity but also to the relationships we’ve built and the expertise we’ve cultivated over the decades.

Aligning Vision with Expertise

Mark Durham, one of our esteemed colleagues, encapsulates the essence of our mission: “As an executive search consultant in the life sciences industry, my role goes beyond filling positions. It’s about aligning vision with expertise to drive meaningful impact in healthcare and science.” This perspective highlights the importance of understanding the nuances of our industry—knowledge of regulatory environments, scientific advancements, and the specific skills needed for leadership are crucial in shaping effective recruitment strategies.

Building trust with both clients and candidates is fundamental. It’s about recognizing leadership potential that aligns with long-term innovation and growth. The satisfaction derived from connecting leaders with opportunities that advance science is what drives us every day.

The Importance of Clear Communication

Managing Director Jeff Ashpitz, with 26 years of experience in executive search, emphasizes a critical lesson: “The most important part of a search assignment is to clearly and crisply define the candidate requirements.” Ensuring alignment among the hiring manager, leadership team, and board is essential for a successful search.

Moreover, maintaining transparent communication throughout the process is vital. “Any bad news needs to be immediately communicated along with a plan to course correct,” Jeff advises. This principle applies equally to candidates; they deserve timely updates, especially if a client decides not to progress their candidacy. Good business practice is rooted in common courtesy, and we strive to uphold this standard.

Customization is Key

Reflecting on his transition into executive search, Partner Barry Duke, with over 30 years in BioPharma shares, “If you have conducted one search, you have conducted one search.” This statement underscores the uniqueness of each search assignment. While job descriptions may seem similar, the critical success factors can vary significantly based on therapeutic areas, company stage, and even the management culture.

Disciplined customization is essential. Detailed discovery work with clients before engaging candidates is a must. As our colleague notes, “It’s too easy to fall into the trap of assumptions.” By asking the right questions and listening closely, we can uncover the nuances that differentiate each search, ultimately leading to more effective outcomes.

Looking Ahead

As we celebrate 50 years in life sciences executive search, we are reminded that our work is not just about filling roles; it’s about shaping the future of the life sciences industry. The lessons learned over the past 50 years will continue to guide us as we navigate the evolving landscape of healthcare and science.

We are grateful for the trust placed in us by our clients and candidates alike. Here’s to the next 50 years of impactful connections, innovative leadership, and advancing the frontiers of science together. Thank you for being part of our journey!

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Talent Implications for 12 Trends in MedTech

by John Groover

The MedTech industry is at the forefront of a technological revolution, driven by innovations that will advance healthcare delivery and patient outcomes. For companies building their senior leadership teams, understanding these trends and their talent implications is crucial for staying competitive and fostering growth.

P4 Technology

P4 technology (Predictive, Preventive, Personalized, and Participatory) represents a revolutionary approach in the MedTech industry. This paradigm shift focuses on predicting health issues before they arise, preventing diseases through proactive measures, personalizing treatments to individual profiles, and encouraging patient participation in their own healthcare. By leveraging advanced data analytics, genomics, 3D printing, and patient engagement tools, P4 technology aims to improve health outcomes and reduce healthcare costs.

Wearables, Biometrics, and Remote Monitoring

The rise of wearable devices and remote monitoring technologies is empowering patients to manage their health proactively. This trend is driving the need for executives who can oversee the development and implementation of these technologies, ensuring they are user-friendly and secure.

Machine Learning and Artificial Intelligence

AI and machine learning are revolutionizing MedTech by enabling predictive analytics, automated diagnostics, and personalized treatment plans. These technologies are enhancing the accuracy and efficiency of medical devices, creating a demand for leaders with expertise in AI integration and data science.

Augmented Reality and Virtual Reality

Augmented Reality (AR) and Virtual Reality (VR) are transforming the medical device industry by enhancing surgical precision, medical training, rehabilitation, pain management, and telemedicine. As these technologies continue to evolve, they hold the potential to significantly improve patient outcomes and change the way healthcare is delivered.

3D Printing

3D printing, also known as additive manufacturing, is revolutionizing the medical device industry by enabling the creation of highly customized and complex medical devices tailored to individual patient needs. This technology allows for rapid prototyping, reducing both the cost and time required to bring new devices to market.

Telemedicine

Telemedicine has become a cornerstone of modern healthcare, offering remote consultations and treatment options. Leaders with experience in telehealth platforms and digital health strategies are essential to navigate this rapidly growing sector.

Data Security

With the increasing digitization of healthcare, data security has become paramount. Executives with expertise in cybersecurity and data protection are vital to safeguard patient information and maintain trust in digital health solutions.

Health Equity

Addressing health disparities is a critical focus in our industry. Companies are seeking leaders who are committed to promoting health equity through inclusive product design and equitable access to healthcare technologies.

Supply Chain Resilience

The COVID-19 pandemic highlighted the importance of resilient supply chains. MedTech companies are investing in digitally enabled supply chains to enhance efficiency and adaptability. Leaders with experience in supply chain management and digital transformation are in high demand.

Sustainability

Sustainability is becoming a key consideration in MedTech. Companies are looking for leaders who can drive eco-friendly initiatives, from sustainable product design to green manufacturing processes.

Accelerated M&A

The MedTech industry is experiencing a surge in mergers and acquisitions as companies seek to expand their capabilities and market reach. Executives with experience in M&A and strategic growth are crucial to navigate this complex landscape.

Executive Compensation

In 2024, executive compensation in the MedTech industry is experiencing notable shifts, driven by a dynamic market environment and evolving performance priorities. According to recent surveys, total cash compensation for C-level executives has increased significantly. This trend is largely attributed to higher levels of incentive plan performance and the increasing complexity of the MedTech landscape. Additionally, the tight talent market, rising labor costs, and inflationary pressures are contributing to upward adjustments in executive pay. Companies are also placing greater emphasis on performance-based incentives to attract and retain top talent, ensuring that compensation packages are competitive and aligned with organizational goals.

What Kind of Leadership Will It Take?

The ideal executive for cutting-edge MedTech companies in 2025 is a visionary leader with a robust blend of technical expertise and strategic acumen. They possess a deep understanding of emerging technologies like AR/VR, AI, ML, and 3D printing, and are adept at integrating these innovations into healthcare solutions. Their experience spans digital health trends, including telemedicine and wearables, ensuring they can navigate and leverage these advancements effectively. They are committed to health equity and sustainability, championing initiatives that promote inclusive and eco-friendly practices. Additionally, they excel in managing supply chain resilience and data security, crucial for maintaining operational integrity. With a proven track record in accelerated M&A, they can strategically grow the company while designing competitive compensation packages to attract and retain top talent. Top leaders will combine innovation, strategic vision, and a dedication to improving patient outcomes, making them well-equipped to lead in such a fast-shifting landscape.

The future of MedTech is bright, with numerous opportunities for innovation and growth. However, navigating this evolving terrain requires a strategic approach to executive recruitment. By understanding the key trends and their talent implications companies can position themselves for success in this quickly changing industry. Partnering with the right retained executive search firm is crucial for identifying visionary leaders with the expertise and strategic acumen needed to lead in 2025 and beyond.

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We’re Honored to be Ranked #1!

We are incredibly proud to share that Strawn Arnold has been recognized by the Austin Business Journal as the top retained executive search firm in Austin! This recognition reflects the hard work, dedication, and passion our team brings to each and every search.

Our success is driven by the trust our clients place in us to deliver exceptional talent, and we are grateful for the partnerships we’ve built along the way. Together, we’re helping organizations reach new heights by connecting them with top-tier leaders.

A heartfelt thank you to our clients, candidates, and the entire Strawn Arnold team. We couldn’t do it without you!

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Placement Announcement

We are delighted to share the announcement that Greg Hamilton has been appointed as the new Chief Executive Officer of Accellix, Inc. Greg’s extensive background in molecular diagnostics and life science tools coupled with years of strategic leadership experience makes him the perfect fit to lead Accellix into its next phase of growth.

With over 25 years of experience, Greg has a proven track record of driving innovation and success. His leadership will be pivotal as Accellix continues to expand its impact in the cell therapy and blood bank markets.

Join us in congratulating Greg on this new role! We are eager to see the achievements that lie ahead for Accellix under his guidance.

https://t.ly/xrzoz

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Celebrating 50 Years of Strawn Arnold

Celebrating 50 years of excellence, Strawn Arnold has stood as a beacon of leadership in executive search within the life sciences and healthcare industries.

As we honor this milestone, we reflect on the words of our founder, Jerry Arnold: “Over the past 50 years, the central focus of the firm has been to identify outstanding people for our internal needs and those of our many clients. We’ve been successful on both counts. Over this period, our superb staff and partners have identified and placed thousands of exceptional leaders in hundreds of companies across our great country.

“We want to thank our many clients for putting their faith and confidence in us, and for allowing us to help you grow and prosper. We’re looking forward to the next 50 years with both anticipation and excitement. We hope you’ll allow us to be of continued service to your company. Outstanding people are the lifeblood of a growing and prosperous organization. It truly has been a great 50 years for the firm.”

Here’s to half a century of dedication and to the many more years of serving the life sciences industry ahead.

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The Sirens’ Song of “Been There, Done That”

by Jeff Dodson

In Homer’s timeless epic, “The Odyssey,” we follow the hero Odysseus on his perilous journey home from the Trojan War. He is forewarned by the goddess Circe of the Sirens, enchanting yet lethal creatures who lure sailors to their doom with their captivating songs. Circe’s warning of a “meadow filled with skeletons” serves as a stark reminder of the perils that await those who succumb to the Sirens’ beguiling call.

This ancient tale echoes in modern boardrooms and hiring teams, where companies often seek out senior executives with the promise of “new thinking” and rapid advancement, yet paradoxically, they also desire candidates with a proven track record in the same or very similar job—”been there, done that” profiles. While not an impossible feat, an overly rigid focus on experience in the exact position, without a willingness to embrace new mindsets, can be a siren song leading to failure. It’s akin to ignoring the meadow of skeletons of past hiring missteps, with assurances that this time, there will be no need for change.

Over my twenty-four years in executive search, including over 300 successful searches primarily within life sciences, I’ve witnessed a growing trend: firms almost exclusively pursuing executive candidates who have already walked the path they seek to tread, often in the same job. This approach is particularly prevalent among private equity firms, whose understandable objectives are to rapidly increase EBITDA over a short time period. For them, long-term executive development and cultivating a robust talent pipeline are secondary.

Companies with a vision for the long-term should not be constrained by these limitations. Executives often express frustration with the limited growth potential within their teams and the desire to bring in new talent that can ascend to higher roles. They seek individuals who can inject fresh ideas and perspectives. Yet, despite good intentions, many organizations falter. The culprits? A pervasive risk aversion and internal resistance that stifle innovation and defer too heavily to consensus when making pivotal hiring decisions.

To excel in hiring practices, companies must navigate common pitfalls with a robust process. Here are some insights and helpful tips to improve the hiring process:

·       At the executive or senior director level, consider whether past experience in the same role is as crucial as leadership qualities, the ability to drive change, and strategic acumen. The ideal candidate will likely have a team or organization handling the day-to-day tasks and the executive must focus on larger things. It’s not about transplanting a factory manager from General Motors into pharmaceutical R&D leadership, but rather recognizing that innovative solutions can be valuable and are usually present in any industry.

·       While there is still much to be done, companies have made commendable progress over the years in various aspects of diversity, and it must continue. However, diversity of thought and diversity of experience often receive insufficient attention, overshadowed by traditional industry practices – i.e., this is the way it has always been done.

·       Too much focus on what a candidate lacks can blind organizations to the potential of that person to bring fresh perspectives to the table – things that more functionally narrow people may not possess. Failure of imagination can mire an organization in short-term thinking. Hiring teams must assess candidates not only with short-term goals in mind but also with a vision for the future and appreciation for what a non-typical candidate can offer.

·       A hiring process can be undermined by too much reliance on consensus. While executives may publicly welcome internal competition, they often look for excuses to dismiss potential rivals.  They may find it easy to dismiss unconventional candidates for not having the typical “been there, done that” experience, which becomes a convenient reason to eliminate them.

The art and science of executive hiring lie in recognizing the trade-offs in candidates and finding a balance. Just as the most rewarding home renovations are those that reimagine the space, not just polish the floors and repaint, the most strategic executive hires are often those who think differently.

Shakespeare’s words in “Measure for Measure” resonate profoundly in this context: “Our doubts are traitors and make us lose the good we oft might win by fearing to attempt.” It’s a reminder that our hesitations can be our downfall, leading us to miss out on the success that a bold approach to executive recruitment could bring. The blunt views of Shakespeare’s  Lady Macbeth are also useful to recall. She in essence speaks about the importance of process, mindset, and resolve when she tells her husband, “The attempt and not the deed confounds us.”

In the end, it is the courage to pursue the attempt that defines our path and propels us forward – the boldness to try, to innovate, and to potentially transform our organizations.

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Want Great Leaders? Put Cultural Fit at the Top of Your Recruiting Wish List

by Jenny Crutchlow

We all have our wish lists for top candidates, the must-haves that are necessary for success in any given leadership position and the nice-to-haves that make a candidate a dream placement. But beyond educational credentials, licensing, sector and functional experience, and career progression and achievements, the significance of cultural fit in hiring cannot be overstated. Organizational leaders not only shape the strategic direction of their organizations but also set the tone for their company’s culture and values. Finding candidates who align with your culture is paramount for long-term success and organizational cohesion.

What is cultural fit? It means a lot of things to a lot of people but can include shared values, work ethic, communication style, and leadership and management approach, among others. When executives are culturally aligned with the organizations they serve, they are more likely to thrive in their roles, build strong relationships vertically and cross-functionally, and drive positive outcomes. On the other hand, a lack of cultural fit can lead to discord, inefficiency, and ultimately underperformance. At worst, a misalignment on culture can lead to a failed placement, quite an expensive mistake.

When considering who to partner with in searching for leaders, don’t leave out the importance of assessing for this critical piece of the recruiting puzzle. Choose a firm that can help with:

1. Deep Understanding of Company Culture. Your partner should invest time and effort to gain a thorough understanding of your organization’s culture, core values, and strategic goals in order to accurately assess candidates based on both explicit and implicit criteria.

2. Holistic Candidate Evaluation: Your partner should look beyond a resume, beyond technical skills, education, and experience, and delve into factors such as leadership style, communication preferences, and interpersonal dynamics. They should also be able to assess whether a candidate has the competence to grow culturally with an organization and to successfully engage all constituencies.

3. Access to Exclusive Networks: Your partner should have extensive networks within your industry and functional areas, enabling them to identify candidates who not only possess your must-haves but also exhibit the cultural attributes that will make them a strong fit for you.

4. Customized Search Strategies: Your partner should tailor their search to your unique needs, always with a view to your culture in mind.

5. Mitigation of Hiring Risks: Your partner should recruit with cultural fit in mind from the outset, helping to mitigate the risk of costly hiring mistakes. By aligning the executives they present to you with your organization’s culture, they greatly enhance the chance of employee engagement, retention, and organizational success.

6. Mitigation of Bias: Your partner can guide you away from the trap of institutional bias by evaluating candidates based on core values rather than on any unconscious biases that may exist within your hiring team, allowing candidates who may bring a fresh perspective to your organization to shine through while still adhering to those core values.

Some questions to consider: How do you define cultural fit within your organization? How do you balance the need for cultural fit with the need for diverse perspectives? What challenges have you faced in ensuring cultural fit during your hiring process? How has cultural fit or lack thereof impacted your organization?

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