Business & Tech
BioMarin's CFO Steps Down
Eight-year company veteran Jeff Cooper's career coincided with company's explosive growth
Novato-based BioMarin Pharmaceutical announced today that Jeffrey Cooper, Senior Vice President and Chief Financial Officer, plans to leave the company. He will stay in his current role through the middle of the year and then transition to an advisory role until the end of 2012.
While Cooper has been with the company, BioMarin grew from 250 employees in 2004 to over 1,000 worldwide, with around 800 from Marin, according to company spokesman Bob Purcell.
"In that time," said an-Jacques Bienaime, Chief Executive Officer of BioMarin, "Jeff has overseen the financial operations of the company as we increased revenues from $12 million in 2003 to over $440 million in 2011 and raised over $650 million in financing. The finance and accounting team under Jeff's leadership is very strong and capable with many experienced and long-term employees."
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Cooper, 56, whose primary residence is in the Sacramento area where he lives with his family, will be “moving on to other opportunities,” according to Purcell.
BioMarin had a strong year in 2011, and was named one of the Novato Chamber of Commerce’s businesses of the year. They recently purchased patents from an Australian firm among other moves that drew approval from investors, although they were saddled with a small fine for failure to sufficiently pre-treat wastewater from their Gail Drive plant.
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BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. Their flagship product is Naglazyme, used in treatment for the rare metabolic disease known as MPS VI. Their head offices are in Bel Marin Keys, but they recently took out a lease on office space in San Rafael with plans to make it their corporate headquarters.
“We will continue to have a very large presence in Novato,” emphasized spokesman Purcell. “Our plant is here. And once you get a plant approved by the FDA you don’t want to move it.” See this article on Patch for more on their expansion.
The company is initiating a search for a new Chief Financial Officer and hopes to complete the search in the second quarter of 2012.
