Seagen CEO and co-founder Clay Siegall resigns following allegations of domestic violence
May 18, 2022, 9:05 AM
Co-Founder, President and CEO of Seattle Genetics Clay B. Siegall, Ph.D. speaks onstage during Gabrielle's Angel Foundation Hosts Angel Ball 2013 at Cipriani Wall Street on October 29, 2013 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Gabrielle's Angel Foundation)
(Photo by Dimitrios Kambouris/Getty Images for Gabrielle's Angel Foundation)
Clay Siegall, the chief executive of Seagen, Washington’s largest biotech firm, resigned this week amid the fallout of his recent arrest for domestic violence.
Clay Siegall, 61, was arrested April 23 at his home in Edmonds. Police contend Siegall, 61, assaulted his wife early that morning during an argument witnessed by multiple guests.
Woodway police went to Siegall’s home at 3:30 a.m. the day of his arrest after his wife called 911 claiming he attacked her, according to a police report. Police noted she appeared to have injuries to her legs and forehead.
Gravity Payments CEO Dan Price charged with sexual assault amid ongoing felony rape investigation
The couple filed for divorce in 2021 after two years of marriage, but had since reconciled. She described Siegall as “angry, violent, controlling, and threatening” during their eight-year relationship.
Siegall will leave Seagen, known previously as Seattle Genetics until 2020, with a severance package that includes 1.5 times his annual salary and bonus, according to a filing with the U.S. Securities and Exchange Commission. Siegall was paid $16.5 million in 2020, making him Washington state’s highest-paid CEO, as calculated by The Associated Press and the executive data firm Equilar.
The company said it appointed Chief Medical Officer Roger Dansey as interim CEO while it starts the search for a new chief executive. Seagen shares rose nearly 6% following the news of Siegall’s resignation.
When Siegall’s leave of absence was announced, Seagen said it was also launching an independent investigation into his conduct.
“Siegall’s resignation has not been driven by findings from the investigation,” Seagan’s news release read following his resignation.
Specializing in cancer technology, Seagen reported $1.6 billion in revenue in 2021. Outside of Seattle, the company has locations in California, Canada, Switzerland, and the European Union.
Siegall has also resigned as chairperson of Umoja Biopharma, a Seattle-based biotech startup. San Francisco-based Nurix Therapeutics said in an SEC filing Monday that Siegall has resigned from its board as well.
