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FORT MYERS — Douglas VanOort, longtime CEO of oncology testing and global contract research services firm NeoGenomics, has announced his retirement from the CEO role, transitioning to executive chairman.
Mark Mallon, a former executive vice president of AstraZeneca and most recently the CEO of Cambridge, Mass.-based Ironwood Pharmaceuticals, was named CEO. The new positions, part of a deliberate succession planning process, go into effect April 19, according to a statement. Mallon will also join the board of NeoGenomics, a publicly traded company. The company, traded on the Nasdaq (symbol: NEO) posted $444.5 million in revenue in 2020.
VanOort has been Chairman and CEO of NeoGenomics for twelve years. During that time, the company has become an industry leader in oncology diagnostic testing, with revenues increasing from $20 million to the current run-rate of approximately $500 million while the team of employees at NeoGenomics has grown from 114 in 2009 to over 1,700 today. In addition, during VanOort’s tenure, NeoGenomics’ market capitalization has increased from $26 million to in excess of $6 billion, the release states.
"It has been a privilege to lead NeoGenomics over the past 12 years,” VanOort says in the statement. “I am very proud of the talented team that we have built and the successful growth and impact on cancer patients' lives that we have achieved. I am very excited to be succeeded by Mark. He brings a vast array of strengths that will enable him to chart a clear course that adds value to NeoGenomics. He has a sharp intellect, an engaging personality, a drive for excellence and an extensive track record of delivering on demanding growth and operating goals.”
Prior to serving as CEO of Ironwood Pharmaceuticals, Mallon led the transformation of the company into a GI focused healthcare company, delivering significant profits for the first time and accelerating the growth of its commercial product. Mallon also spent 24 years at AstraZeneca, the release states, where he served on the executive committee and as executive vice president of global product and portfolio strategy leading global marketing, pricing and market access, medical affairs (including health economics and real world evidence) and corporate affairs.
He also co-chaired the Late-Stage Product Development Committee for AstraZeneca's $18 billion Bio-Pharmaceutical business. Prior to that role, he led the firm’s International Region, managing a growing $6.5 billion business with over 20,000 employees. He launched AstraZeneca's emerging market strategy and led the expansion and growth of AstraZeneca's business in China, the release states, where it was the second fastest growing major multinational and second largest pharmaceutical company. As president of AstraZeneca China, COO of AstraZeneca Japan, vice president of U.S. sales and marketing operations and president of AstraZeneca Italy Mallon delivered several best-in-class new product launches, the release stats.
"I am honored to be named the next CEO of NeoGenomics, a very exciting company with a tremendously talented team, a special culture, and enormous opportunities to make a difference for countless numbers of cancer patients,” Mallon says in the release. “I am personally excited to build on NeoGenomics' strong competitive position and lead the company into the future. I look forward to working with Doug as executive chairman and learning from his experience as we continue to grow the company."
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