Arvinas, Inc. announced that Randy Teel, Ph.D., will become President and Chief Executive Officer, effective February 12, 2026. Teel has served as the company’s Chief Business Officer since 2018 and brings 20 years of biopharmaceutical experience, including senior roles at Alexion Pharmaceuticals and McKinsey & Company.
The appointment follows the retirement of former CEO John Houston, Ph.D., who will remain on the board as a director and serve in a consulting capacity through March 1, 2027. Briggs Morrison, M.D., has been named the new Chair of the Board, positioning the company for continuity while the board retains Houston’s expertise during the transition.
Teel’s new employment agreement includes an annual base salary of $680,000, a performance‑based bonus target of 60% of his salary, and significant stock options and restricted‑stock‑unit awards vesting over four years. The agreement also provides severance protections, including enhanced benefits and accelerated vesting if a qualifying termination occurs following a change in control.
The board’s decision reflects Teel’s deep understanding of Arvinas’ science, operations, and commercial strategy. He has led corporate strategy, business development, investor relations, and communications, and served as interim Chief Financial Officer. His appointment is intended to build on Houston’s legacy while steering the company through a period of strategic recalibration, including the recent workforce reduction and the reassessment of the vepdegestrant partnership with Pfizer.
Briggs Morrison, M.D., Chair of the Board, said: “Randy brings a strategic vision, a deep understanding of the company’s scientific and operational foundation, and an ability to understand and address the priorities of multiple stakeholders. The Board was impressed with Randy’s role in refocusing Arvinas’ strategy around its differentiated and exciting clinical pipeline, and his strategic experience across the biotechnology industry uniquely positions him to lead Arvinas through its next phase of growth. On behalf of the Board, I extend our sincere thanks to John for his exceptional leadership, vision, and contributions over the past nine years.” Randy Teel, Ph.D., added: “I look forward to continuing this work with the exceptional team at Arvinas as we advance our mission and deliver meaningful impact for patients, their families, and our shareholders.” John Houston, Ph.D., stated: “I look forward to supporting Randy and the entire organization as Arvinas continues to push the boundaries of what’s possible for patients.”
Arvinas is a clinical‑stage biotechnology company focused on developing therapies for debilitating and life‑threatening diseases using its proprietary PROTAC technology. The company’s pipeline includes candidates such as bavdegalutamide, ARV‑471, and ARV‑766. Recent challenges have included a 15% workforce reduction announced in September 2025, a $100 million stock‑repurchase program, and the discontinuation of two Phase 3 trials with Pfizer related to vepdegestrant. The partnership with Pfizer, announced in 2021 and valued at up to $2.4 billion, remains a significant strategic asset, though the company is exploring additional commercialization partners for vepdegestrant.
The leadership transition signals Arvinas’ intent to maintain strategic momentum while addressing operational headwinds. With Teel’s experience in corporate strategy and business development, the company aims to strengthen its pipeline execution, secure additional partnerships, and navigate the evolving competitive landscape in targeted protein degradation. The board’s confidence in Teel’s ability to lead the next phase of growth underscores the company’s commitment to advancing its science and delivering value to patients and shareholders.
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