BOSTON: Ironwood Pharmaceuticals Inc. announced that Mark Mallon plans to step down as chief executive officer and a member of the Ironwood Board of Directors in order to pursue another leadership opportunity, effective March 12, 2021.

The Ironwood Board has named Thomas McCourt, Ironwood’s president, as interim CEO effective upon Mr. Mallon’s departure.

Julie McHugh, Ironwood’s Board chair, will become executive chair of the Board of Directors effective upon Mr. Mallon’s departure and, in that capacity, will continue to lead the Board of Directors as well as provide counsel and guidance to the senior management team through the transition.

The Board plans to initiate a candidate search with the assistance of a leading executive search firm to identify Mr. Mallon’s permanent successor.

Ironwood Pharmaceuticals (Nasdaq: IRWD) is a GI-focused healthcare company dedicated to creating medicines that make a difference for patients living with GI diseases. Ironwood was founded in 1998 and is headquartered in Boston, Mass. www.ironwoodpharma.com