Paul Stoffels to retire as CEO of Galapagos but will remain as chairman of the board

Paul Stoffels to retire as CEO of Galapagos but will remain as chairman of the board
Paul Stoffels to retire as CEO of Galapagos but will stay on as chairman of the board. © AFP

The CEO of Galapagos, Paul Stoffels, is retiring, the Mechelen-based biotechnology company announced on Monday evening.

Galapagos also announced the appointment of German Henry Gosebruch as CEO of a future spin-off currently known as SpinCo.

In January, Galapagos had revealed plans to split into two entities. A subsidiary was established with €2.45 billion in reserves, aiming to build a pipeline of innovative medicines through acquisitions.

The subsidiary, which was given the interim name of SpinCo, will get a definitive name upon its formal separation.

Galapagos will then focus on cell therapy in oncology.

The biotech company is set to have new leadership as well: CEO Paul Stoffels will retire once the board finds a successor, expected within the next twelve months. However, Stoffels will remain the chairman of the board to provide “strategic guidance and support.”

Stoffels has led Galapagos since April 2022, following a tenure at American pharmaceutical giant Johnson & Johnson.

Gosebruch, SpinCo’s CEO, was previously the head of US biotech firm Neumora, after working for AbbVie and J.P. Morgan. “His extensive biotech experience, leadership, and track record in creating shareholder value through mergers, acquisitions, and business development will be invaluable to SpinCo,” Stoffels commented.

Galapagos also announced last week that its Chief Financial and Operating Officer, Thad Huston, will leave this summer to return to the United States for “personal and professional reasons.”

The company is seeking a successor for Huston.


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