MannKind Withdraws Offer To Employ Duane DeSisto As CEO On Insulet's Objections

(RTTNews) - MannKind Corp. (MNKD) announced that MannKind has withdrawn its offer to employ Duane DeSisto as its President and Chief Executive Officer as a consequence of objections raised by Insulet Corporation, the former employer of DeSisto, that the employment of DeSisto by MannKind would violate Insulet's non-competition agreement with DeSisto, which is in effect until September 17, 2016.

As a result, DeSisto will not join MannKind as an officer and director, as previously announced.

The board of directors of MannKind appointed Matthew Pfeffer as Chief Executive Officer of MannKind, effective January 10, 2016, replacing Alfred Mann who has been serving as interim CEO since November 19, 2015. Pfeffer will continue to serve as the Chief Financial Officer of MannKind. He was also appointed to fill an existing vacancy on the board of directors, effective January 10, 2016.