Verastem Oncology
Verastem Oncology Appoints Michael P. Bailey President and CEO
Verastem Oncology announced a leadership change on October 14, 2026. Verastem Oncology appointed director Michael P. Bailey, who spent 16 years at AVEO Pharmaceuticals, as President and CEO effective January 1, 2027, succeeding retiring CEO Daniel Paterson.
What changed
Michael P. Bailey was named President and Chief Executive Officer. Daniel Paterson will retire as President and CEO following a 35-year career in the biopharmaceutical industry and will remain on Verastem’s Board of Directors and as an advisor.
- Leader: Michael P. Bailey
- Role: President and Chief Executive Officer
- Effective: January 1, 2027
- Announcement date: October 14, 2026
Leadership background
Bailey has more than 30 years of experience in the biopharmaceutical industry and has served on Verastem’s Board of Directors since May 2026. He spent 16 years at AVEO Pharmaceuticals, where he was President and Chief Executive Officer from January 2015 and earlier held the Chief Business Officer and Chief Commercial Officer roles. Earlier roles included Senior Vice President of Business Development and Chief Commercial Officer at Synta Pharmaceuticals, nine years at ImClone Systems, and positions at Genentech and SmithKline Beecham.
The mandate
Board Chairman John Johnson said the Board appointed Bailey to lead Verastem through its next phase of commercial growth, clinical advancement, and operational execution. Bailey said the company is well positioned to advance its vision of becoming a multi-asset oncology company.
Why this matters for GTM teams
Executive appointments can precede changes in strategy, operating cadence, hiring, partnerships, and technology priorities. The useful signal is not the title alone: teams should watch the new leader’s stated mandate, prior playbook, organizational scope, and the initiatives announced during the first two quarters.
Source and methodology
This leadership profile is based on the company’s announcement. Roles, transition timing, and biographical details are presented as announced; SalesTools Research does not infer undisclosed succession plans.
Primary source: Verastem Oncology leadership announcement.
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