Mark Roithmayr

Mark Roithmayr

Chief Executive Officer at the Alzheimer’s Drug Discovery Foundation

In 2016 DRG Search worked with the Alzheimer’s Drug Discovery Foundation (ADDF) to find a leader for the newly created position of President & CEO. The search team focused on finding an innovator who was a resourceful manager and most importantly an incredible fundraiser. As a result, Mark Roithmayr was chosen to lead ADDF.

Mr. Roithmayr has been working in the voluntary health nonprofit space for over 36 years and believes that serving at ADDF is in many ways a capstone.

[On how he feels about leading ADDF] “The issue of Alzheimer’s will no doubt be the greatest health issue of my generation.  And day in, day out, I get to steward an organization that is developing the very drug pipeline that will ultimately lead to treatments and cures.  I feel blessed.”

In a recent interview with DRG, Mark talks about his leadership style, priorities as a leader, and new initiatives at ADDF.

 

What are some of the core principles and values that guide your work and define your approach to leadership?

Two of my core principles as a non-profit leader are the concepts of stewardship and fidelity.

The concept of ‘stewarding’ an organization takes into account that there are many constituencies that make up a non-profit.  As CEO, I need to meet with, understand, and lead many groups toward one common purpose.  Stewarding the ideas, notions and directions of both complimentary and at times competing constituencies is of utmost importance.  It is never “my way or the highway”.  It is always balancing the thoughts, needs, ideas, abilities, and visions of many groups,  then stewarding a clear path that most if not all can follow.

Fidelity is my commitment to the organization I am leading.  Their mission, issues, and purpose need to matter more to me than any one constituency and/or individual touched by the very mission we are serving.  As the CEO, I cannot have one foot out the door looking for the next opportunity.  If that were the case, I would need to resign and look for another job. Fidelity to the cause and to the mission, in my mind, is sacrosanct to being the CEO at a nonprofit.

 

What’s your leadership style?

Mine is a very high touch style.  Every morning before the full day starts I make it a point to get up from behind my desk and go around to each person in the office to say good morning.  Similarly, with our Boards, top volunteers, and top donors, I am constantly in touch: from handwritten notes to calls, breakfasts, lunches, dinners, coffees, etc.   Nonprofit is a high touch sport.  I learned a long time ago that no one ever really needs to return your call at a nonprofit.  Relationships are what separate the good from the great in our sector.

 

What was your perception of the organization before joining the Alzheimer’s Drug Discovery Foundation and how has it changed?

In many wonderful ways, my perception is my reality!

I had always thought, were I to be a CEO again, I would ideally like to steward a smaller, nimble, mission critical organization with an interesting funding model.  ADDF completely fit the bill.

Founded by the Lauder family, ADDF only funds Alzheimer’s drug discovery (translational) research.  It is a boutique shop of two dozen employees, half scientists searching for cures and half development professionals raising the funds.  The Lauder family covers all the overhead costs so ADDF can make the claim that every cent on the dollar goes directly to funding science.  Our Founding Executive Director and Chief Science Officer, Dr. Howard Fillit, pioneered a venture philanthropy model 20 years ago when the organization was founded.  Since our inception we have made over $100M investment in drug discovery research.  Some $30M of that has gone to biotech’s and we have seen a return of $6M on our investments (with all the returns being put back into funding additional science).

 

What was the first thing you did when you joined as CEO?

I spent the first three months as the CEO at ADDF calling every one of our board members making appointments to see them directly.  Ideally these meetings took place in their offices (and/or at breakfast or lunches).  Each meeting generally lasted 60-90 minutes.  And with every board member I asked three basic questions: tell me about yourself/your career, tell me about your connection to Alzheimer’s, and tell me about your relationship/thoughts about the ADDF.

The meetings were invaluable.  I listened intently and was careful not to ask for anything—these were simply “get to know you” meetings.  The meetings immediately kicked off terrific relationships with each Member. Additionally, it gave me insights and opportunities on all that ADDF was doing.  And despite me not asking for anything, it resulted in an outright gift (one Member handed me a $25,000 check at the end of the breakfast!) as well as two new events.

 

How are you working with the board to develop new initiatives that would give ADDF a new edge into the latest technology to fund the discovery of new drugs?

There are at least three new initiatives I am presently working on with the Board:  new markets, new events, and new lines of business.

In 2017, working with particular members we were able to establish new beach heads for ADDF, one in San Francisco/Silicon Valley and the other in Palm Beach.  Both markets are naturals for us—venture philanthropy plays very well in Northern California, and based on the demographics there is a lot of interest in the issues of Alzheimer’s and dementia in Palm Beach.

In Northern California we had two different board members host private dinners with couples interested in our venture approach.  This has resulted in new donors in 2017 as well as new individuals willing to host similar private dinners in 2018.  In Palm Beach, thanks to another Board Member, we are hosting our first fundraising luncheon in March which was actually sold out before we ever needed to print an invitation!

While we are a very New York-centric organization, our base of support tends to come from donors in their 60’s and 70’s.  Last year one of our board members agreed to lead an initiative to create a Committee and event for people in their 40’s and 50’s.  The event is titled Memories Matter; it is being held on Chelsea Piers and is on target to raise well over $500K in its first year.  And it is a totally volunteer driven, third party event.

Finally, on new lines of business we have several Board Members introducing us to those who work in the world of ultra-high net worth individuals, including banks like UBS, as well as networks that make up private family offices.  Our typical donor’s ‘stop and think’ gift starts at $25K and they have the ability to make gifts of six and seven figures.  It is only natural for us to seek relationships with those in the business of ultra-high net worth management.  We are fortunate to have board members who travel in these worlds.

 

Tell us about a new initiative/strategy/project at ADDF and what you envision it will do for the healthcare/diagnostics advancement of the community suffering from this condition?

Led by the Board, ADDF has made a pivot on our science funding strategy in the last year.  Up until recently, about half of our funding had gone into pre-clinical trials with the other half going into human clinical trials.  We made the strategic decision recently to begin spending 75% on human clinical trials.  This is for ADDF a tipping point, as we believe there is now enough promising research in the pipeline that the majority of our investments can be focused on potential treatments and cures being tested in humans.  This pivot signals from ADDF’s point of view that we are entering a new phase where we believe we will start seeing the first new drug treatments for Alzheimer’s in the next 5-10 years.  Truly, these are very exciting times.