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Seagen CEO and Co-Founder Clay Siegall Resigns After Reported Arrest

Clay Siegall left Seagen’s CEO, president and director roles effective May 15, 2022. Seagen said he denied the allegations and that the resignation was not based on its ongoing investigation.
From TheFinanceBase Team2 min to read
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Clay Siegall resigned as Seagen’s president, CEO and a board member effective May 15, 2022, after the company disclosed that he had taken leave following an alleged domestic violence incident at his home. Seagen said Siegall denied the allegations and that its independent board committee was investigating. The company said his resignation was not based on findings from that investigation.

What Seagen announced

In a May 5, 2022, filing, Seagen said it was aware of an alleged domestic violence incident that had occurred recently at Siegall’s home. The company said he denied the allegations and had told it he was engaged in a divorce. Seagen also announced that Siegall was taking a leave of absence and that chief medical officer Roger Dansey would serve as interim CEO.

The board formed a committee of independent directors to investigate and retained an outside law firm to assist. In a May 16 filing, Seagen said the investigation was ongoing.

What was reported about the arrest

Contemporaneous news reports, citing police records, said Siegall was arrested on April 23, 2022, and faced a charge of fourth-degree domestic violence, a gross misdemeanor. An arrest and charge are not proof of guilt. Seagen described the matter as an allegation, and its filing recorded Siegall’s denial.

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When the resignation took effect—and what it did not establish

Siegall’s resignation from the roles of president, CEO and director took effect May 15, 2022. Seagen’s May 16 filing said the departure was mutually agreed and explicitly stated that it was not based on findings from the company’s investigation. The filing also said Dansey would remain interim CEO while the company searched for a permanent successor.

Seagen’s 2023 proxy statement said the independent committee’s investigation continued. The public materials cited here do not establish a final investigative finding.

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What happened to the reported charge

GeekWire later reported in 2022 that prosecutors would not pursue charges. That outcome is reported by GeekWire; the materials cited here do not include a primary court or prosecutor record. A decision not to pursue charges does not establish whether the alleged incident occurred.

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Who became Seagen CEO after Siegall

Dansey served as interim CEO after Siegall’s departure. David Epstein became CEO effective November 9, 2022, succeeding Dansey’s interim tenure.

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Seagen leadership timeline

  • 1997: Seagen’s 2022 proxy statement says Siegall co-founded the company.
  • November 2002: The proxy says Siegall began serving as CEO.
  • April 23, 2022: News reports citing police records said Siegall was arrested and faced a domestic violence gross-misdemeanor charge.
  • May 5, 2022: Seagen disclosed his leave and named Dansey interim CEO while an independent committee investigated.
  • May 15, 2022: Siegall’s resignation as president, CEO and director took effect.
  • November 9, 2022: Epstein became CEO.
  • Later in 2022: GeekWire reported prosecutors would not pursue charges.

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