Chiesi fills permanent CEO role with Flagship's Khougazian
David Khougazian will join Chiesi from Flagship Pioneering on 15th October.
Italian pharma group Chiesi has named David Khougazian as its new permanent chief executive, following the departure of Giuseppe Accogli earlier this year to join private equity firm Archimed.
Khougazian – who is currently at investment group Flagship Pioneering – will take over as CEO of Chiesi on 15th October, replacing chief financial officer Jean-Marc Bellemin, who has been serving as acting CEO and CFO since Accogli left.
The new CEO has over 25 years of global healthcare and life sciences leadership experience, most recently as head of global engagement at Flagship Pioneering. He will be tasked with spearheading privately held Chiesi's ongoing strategy of driving revenue growth, broadening its R&D, and expanding on the international stage.
"We are delighted to welcome David to Chiesi at a time of strong momentum for the company," said Maria Paola Chiesi, group chair of the family-controlled group. "He brings a unique combination of global healthcare leadership, operational experience, and exposure to some of the most dynamic areas of biotech innovation, which makes him exceptionally well positioned to guide Chiesi through this next chapter"
Khougazian is inheriting a group that has seen steady revenue growth in recent years and is aiming to build annual revenues to €6 billion or more from a 2025 level of €3.6 billion. Sales in the first half of this year were €1.89 billion, up 3.6% on the same period of 2025.
Chiesi has just completed a $1.9 billion buyout of KalVista Pharmaceuticals and Ekterly (sebetralstat), the first FDA-approved oral, on-demand drug for treating exacerbations of the rare disease hereditary angioedema (HAE), which some analysts think could eventually become a $500 million-plus product.
It is also investing more than 22% of its revenues in R&D to build its pipeline in respiratory health, specialty care, and rare diseases, whilst also expanding its presence in the US.
Khougazian – who has previously held senior roles at Sanofi, Aventis, and Rhône-Poulenc – said that Chiesi is "widely recognised for its strong values, scientific excellence, entrepreneurial mindset, and commitment to patients."
He added: "Chiesi has built an impressive foundation, combining scientific expertise and a clear commitment to sustainable growth across generations. I look forward to working alongside Chiesi colleagues around the world to further strengthen the group's innovation capabilities, advance its pipeline and partnerships, and create lasting value for patients, healthcare systems, and society."
