Downward pressure on CEO compensation packages is starting to have an effect on where these top executives want to work, reports biotech website TMCNet.com
The article quotes Gabrielle Lajoie, a managing director with the executive search firm Russell Reynolds Associates, as saying that experienced CEOs from biotech firms may be considering a move into venture capital. She cited former Anadys Pharmaceuticals Inc. CEO Kleanthis Xanthopoulos, who joined Enterprise Partners for a period (before moving back to the top spot at Regulus Therapeutics LLC) as one example.
As for CEOs in the financial services industry, it remains to be seen whether increased regulation under a Democratic-controlled Congress, as well as limits on executive compensation for firms that participate in the bailout, will have more top execs looking for greener pastures in the venture capital world.
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