Race Oncology Ltd (ASX:RAC) has welcomed Mary Harney as non-executive chair (NED), replacing Dr John Cullity who will remain on the board as a non-executive director.
As an accomplished NED and life science executive Harney was the perfect choice for the position. She has been a non-executive director of Race since February 8, 2021, and brings a deep understanding of academic and applied life science research, as well as biopharmaceutical regulatory affairs and commercialisation capability.
Long list of achievements
Harney has a long list of achievements to her name.
She is currently the director of a specialist consulting firm providing leadership, governance and strategic advice across innovation industries such as health, biotech and agriculture and also serves as chair of Australian biotech companies, Oncology One Pty Ltd and Microbio Limited.
Previously she was interim CEO for the $2 billion Breakthrough Victoria Fund; CEO of Royal Australasian College of Surgeons and Gardiner Dairy Research Foundation as well as director of the Office of Clinical Research/COO Research at Peter MacCallum Cancer Centre.
Through these roles, she had carriage of strategy, risk management and the development of best practice corporate, research and clinical governance.
Notably, Harney boasts international postgraduate qualifications in diagnostic Cytopathology and in 2015 was the collaborative winner, with former alum Monash, of the AFR and B-HERT award for excellence in collaboration between industry and academia for the dairy industry.
In 2016, she was awarded Science Alumni of the Year by Monash University.
“On behalf of my fellow directors, I would like to thank John for his commitment to and leadership of Race. It is a privilege to succeed him as chair,” Harney said.
“I am enthusiastic about continuing to work with the board and management team to see the development and commercialisation of Zantrene evolve to meet its critical milestones, so bringing value to patients and shareholders.”
Strategy planning
The board reshuffle is part of RAC’s succession planning strategy.
While Dr Cullity will step down from the ED role, he will continue to play an important role in commercialisation and deal development, while maintaining his ongoing position as a major shareholder.
“I am delighted to see Mary Harney named as Race’s next chair," Dr Cullity said.
"Mary brings a deep level of skill and experience garnered through many decades of leadership and cross-industry business acumen. She has also been recognised through her career for her ability to bring multiple stakeholders together to negotiate complex and high-value outcomes, which will prove critical as our presence and international exposure grows.”
“As part of our board succession planning, in a strategic and measured way, we have instituted CEO and chair renewal over the last 12 months.
"I am delighted to see this coming to fruition and look forward Race’s continued growth and evolution under Mary’s leadership.
"I remain committed to the board as both a non-executive director and a major shareholder," he added.