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5/11/2010 8:37:05 AM
LONDON, UK, 5 May 2010 – SkyePharma PLC (LSE: SKP) announces today that its Chief Executive Officer, Dr. Ken Cunningham, has informed the Board that he intends to step down from the Board, and as Chief Executive Officer, in the fourth quarter 2010, to enable him to focus on a portfolio of non-executive appointments.
An executive search for a replacement Chief Executive Officer is being initiated.
Frank Condella, Chairman of SkyePharma, commented: "The Board thanks Ken for his valuable contribution to the progress of SkyePharma since April 2006 and his excellent stewardship of the Group since his appointment as Chief Executive Officer in September 2008. We are pleased that Ken will continue to manage the Group and, in particular, lead the ongoing discussions with the FDA on Flutiform™. In the meantime, we are undertaking a search, both internal and external, for an equally talented and committed replacement. We are aiming to ensure that there will be a suitable hand over period and Ken has confirmed his intention to assist us in this process."
Ken Cunningham joined the Company in April 2006 and was appointed Chief Executive Officer of SkyePharma PLC on 1st September 2008. Aged 57, Ken is a Non-Executive Director of Xention Limited and Chairman designate of Polytherics Limited. Previously, he was Chief Executive Officer of Arakis Limited, Vice-President European Affairs of Alza Corporation and Vice-President Clinical Development of Sequus Inc. Prior to this he held a variety of clinical development and commercial strategy roles at GlaxoWellcome plc and Warner-Lambert.
About SkyePharma PLC
Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage and life-cycle extension. The Group has twelve approved products in the areas of oral, inhalation and topical delivery. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com.
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