Dec 8, 2017

Hedge fund titan Sam Isaly steps down after harassment allegations

Dan Primack, author of Pro Rata

via YouTube

Sam Isaly has stepped down as managing partner of OrbiMed, the $14 billion health care hedge fund and private equity firm he founded in 1998, just days after a STAT report that Isaly had sexually harassed and demeaned female employees.

Bottom line: OrbiMed says in a statement that the move is "pursuant to years-long succession planning discussions." Isaly had denied the allegations against him to STAT, but his departure comes just two days after the news site's report, which resulted in OrbiMed hiring an outside law firm to investigate the allegations from multiple women — including Isaly's former assistant, who says she was regularly subjected to hardcore pornography and quit after Isaly asked her to open a briefcase that contained a vibrator.

The firm's statement also included the following quote from Isaly: "I am extremely proud of what my distinguished partners and I have accomplished at OrbiMed and the difference we have made in the lives of patients worldwide. OrbiMed is a strong and vibrant company positioned for continued growth and this is a good time for me to pass the baton to the next generation of leaders."

Moving forward, OrbiMed will be led by a management committee comprised of Sven Borho, Carl Gordon, and Jonathan Silverstein.

Go deeper

Updated 49 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:45 p.m. ET: 5,763,122 — Total deaths: 358,235 — Total recoveries — 2,389,735Map.
  2. U.S.: Total confirmed cases as of 5:45 p.m. ET: 1,715,811 — Total deaths: 101,337 — Total recoveries: 391,508 — Total tested: 15,192,481Map.
  3. Public health: The mystery of coronavirus superspreaders.
  4. Congress: Pelosi slams McConnell on stimulus delay — Sen. Tim Kaine and wife test positive for coronavirus antibodies.
  5. Education: Science fairs are going virtual, and some online elements may become permanent.
  6. Axios on HBO: Science fiction writers tell us how they see the coronavirus pandemic.
  7. 🏃‍♀️Sports: Boston Marathon canceled after initial postponement, asks runners to go virtual.
  8. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Minnesota activates National Guard amid fallout from George Floyd death

A portrait of George Floyd hangs on a street light pole in Minneapolis. Photo: Stephen Maturen/Getty Images

George Floyd, 46, moved to Minnesota to improve his life and become his "best self," but instead, he is dead because of Minneapolis police.

The latest: Minnesota Gov. Tim Walz declared a state of emergency and activated the state's National Guard in response to violent clashes over the past two days between police and protesters in the Twin Cities.

Trump signs executive order targeting protections for social media platforms

President Trump signed an executive order on Thursday designed to limit the legal protections that shield social media companies from liability for the content users post on their platforms.

What they're saying: "Currently, social media giants like Twitter receive an unprecedented liability shield based on the theory that they are a neutral platform, which they are not," Trump said in the Oval Office. "We are fed up with it. It is unfair, and it's been very unfair."