Ironwood names Tammi Gaskins as next CEO, succeeding Tom McCourt

Ironwood Pharmaceuticals disclosed on October 16, 2026 that its board voted on October 12, 2026 to make Tammi Gaskins, currently Senior Vice President and Chief Commercial Officer, the company's next Chief Executive Officer, with the change taking effect January 1, 2027. The board also expanded its size from eight to nine directors and will seat Gaskins as a director on that same transition date.¹

Thomas McCourt told the board on October 12, 2026 that he plans to retire as CEO on December 31, 2026, after 17 years with Ironwood, five of them as chief executive, and he will stay on as a board director.¹ Ironwood and McCourt also intend to sign a consulting agreement starting on the transition date, under which he would be paid $10,000 a month.¹

Gaskins's new pay package includes an annual base salary of $775,000 and a bonus target equal to 75% of that salary, contingent on meeting corporate goals¹. She will also receive restricted stock units and performance-based restricted stock units under the company's equity plan, each with a target grant value of about $2,000,000.¹ The RSUs vest over four years in equal annual installments.¹

Ironwood plans to give Gaskins an amended severance agreement tied to her CEO role, replacing an existing agreement from February 24, 2025.¹ Under the new terms, a qualifying termination would entitle her to 18 months of base salary (24 months if tied to a change of control), prior-year bonus if unpaid, a prorated target bonus, an enhanced bonus multiple, up to 18 months of subsidized COBRA, and outplacement assistance.¹

Gaskins joined Ironwood in 2020 and has led commercial efforts for LINZESS and for apraglutide, a Phase 3 GLP-2 analog candidate for short bowel syndrome with intestinal failure.¹ The filing states there was no arrangement tied to her appointment and no family relationship with other company officers or directors.¹