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Roivant Sciences Ltd. (NASDAQ:ROIV), a $7.6 billion market cap pharmaceutical company with impressive revenue growth of 140% over the last twelve months, announced a significant change in its executive team earlier this week. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet. Rakhi Kumar has stepped down from her role as Principal Accounting Officer and Chief Accounting Officer of the company’s subsidiary, Roivant Sciences, Inc., effective as of Monday.
Succeeding Kumar, Jennifer Humes has been appointed as the new Principal Accounting Officer for Roivant Sciences Ltd. and Chief Accounting Officer for Roivant Sciences, Inc. Humes brings extensive experience to the role, having previously served as a Managing Director at JPMorgan Chase (NYSE:JPM) where she led a team overseeing the global investment banking businesses. Her career also includes senior positions at Citigroup (NYSE:C) and Deloitte, and she started as an auditor at PricewaterhouseCoopers. Humes is a Certified Public Accountant and holds a BA in Accounting from the University of St. Thomas.
The company’s agreement with Humes includes an annual base salary of $380,000, a sign-on bonus of $261,500 subject to repayment conditions, a target annual cash bonus of $190,000, and a substantial grant of restricted stock units and options under the company’s 2021 Equity Incentive Plan. These equity awards are subject to vesting conditions based on her continued employment with the company. The company maintains strong liquidity with a current ratio of 37.9x, indicating robust short-term financial health.
Roivant Sciences has expressed gratitude to Kumar for her years of service and looks forward to Humes’ contributions in her new role. There are no reported family relationships between Humes and any company directors or executive officers, nor any related-person transactions.
This leadership transition comes as Roivant Sciences continues to navigate the complex pharmaceutical industry landscape, aiming to maintain its commitment to innovation and growth. Analysts maintain a positive outlook on the stock, with price targets ranging from $12 to $18 per share. For deeper insights into Roivant Sciences’ financial health and growth prospects, including 10+ additional exclusive ProTips, visit InvestingPro for a comprehensive analysis report.
The information reported is based on a press release statement.
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