Lexicon Pharmaceuticals Appoints Mike Exton As CEO

(RTTNews) - Lexicon Pharmaceuticals, Inc. (LXRX) Monday announced the appointment of Mike Exton as chief executive officer and director of the company.

Exton succeeds Lonnel Coats who, as previously announced, retired effective July 7, 2024. Exton most recently served as the global cardiometabolic therapeutic head at Novartis.

"I am confident that Mike is the right person to serve as Lexicon's next chief executive officer at this critical time for the company," said Ray Debbane, chairman of Lexicon's board of directors.

"I am excited and honored to be appointed Lexicon's new chief executive officer," said Dr. Exton. "I am impressed with Lexicon's current assets and pipeline and look forward to leading this talented group of employees as we focus on executing together on the important near-term objectives to drive value for the future."

Concurrently, Jeff Wade has been named president and chief operating officer. Mr. Wade has served as Lexicon's president and chief financial officer since October 2021, having previously served in a series of finance, corporate development, administrative and legal leadership positions since joining the company.