Dan Browne has stepped down as president and CEO of Revance Therapeutics (NASDAQ: RVNC) due to what the company describes as “a misjudgement in handling an employee matter.” The Newark, CA-based drug developer gave no other details. Browne has also resigned from Revance’s board of directors. In a securities filing, Revance said Browne’s departure was not related to the company’s performance or because of any disagreement with its operations, policies, or practices.
Browne, a Revance co-founder, had been CEO since the firm’s formation in 2002. Mark Foley, a member of Revance’s board for two years, has been appointed the company’s new president and CEO. Foley’s experience includes serving as the chairman, president, and CEO of Zeltiq, which was acquired by Allergan (NYSE: AGN) in 2017 in a $2.4 billion deal. Revance says it is on track to file this fall for regulatory review of daxibotulinumtoxinA as a treatment for glabellar lines, furrows that form between the brows or across the forehead due to aging.