Client background
This clinical-stage biotech company is developing small molecule therapeutics for the treatment of devastating cancers and immune disorders. They have approximately 250 employees and are wholly owned by a large multinational pharmaceutical company.
Challenge
The Vice President of Regulatory Affairs recently left the company and they needed to find the right replacement. They wanted somebody with strong oncology experience who also led Regulatory teams in the past. They wanted someone on the West Coast who was willing to be in San Diego once or twice a month, and was also the right cultural fit for their organization. The COO and CEO really wanted a senior leader with gravitas, who could have a strong voice within the company.
Approach
Dennis Partners kicked off a Retained Search in late October. We recruited and vetted candidates on the West Coast who fit the client’s qualifications. We submitted a total of eight candidates and our client had video interviews with all of them. They advanced six of them to the second round of video interviews, and then brought their top three choices onsite at their office.
Result
The interview panel was unanimous regarding their top choice for the role, but that candidate was expecting a competing offer from another pharmaceutical company. Dennis Partners spoke with this candidate to revisit what was most important for him: small company size, the science, and culture. The candidate indicated that both companies met those needs, and each offered various pros and cons. When pressed on what would help break a tie, he indicated that a Senior Vice President title would make a difference. The client agreed to come forward with a SVP title and compensation package, which helped the candidate to accept their offer and turn the other one down.