Galashiels, Scotland, 3 June, 2009 – ProStrakan Group plc (LSE: PSK), the international specialty pharmaceutical company, today announces that it is to appoint Allan Watson as its new Chief Financial Officer (“CFO”), replacing Paul Garvey, who has indicated to the Board of Directors his intention to step down from the position.
Allan (42), recently announced as Scottish Young Finance Director of the Year, will join ProStrakan, and its Board of Directors, later this year from medical technology company, Optos plc, where he has been CFO since 2003. A Pharmacy graduate, he has held a number of finance positions with companies both within and outside the healthcare sector since qualifying as an accountant.
Allan’s appointment follows the decision by Paul Garvey, ProStrakan’s CFO since 2007, to step down from the role following a period of ill health in 2008. Paul will continue in the role of CFO until Allan joins the Company later in the year.
Commenting on ProStrakan’s change of CFO, Dr Wilson Totten, Chief Executive, said:
“Paul Garvey has made a significant and valuable contribution to ProStrakan since he joined us in 2007 and I regret, as I know he does, that the period of ill health he suffered in 2008 has led him to step down now. I, and his colleagues on the Board and across the Company, wish him continued good health and future success.
“In Allan Watson we have attracted a highly regarded and professional CFO who has a deep understanding of the healthcare sector. His will be a pivotal role as the Company continues to work towards achieving break-even before the end of this year and profitability in 2010.”
Allan holds no further directorship positions and there are no other disclosures required under paragraphs 9.6.13 (1-6) of the FSA’s Listing Rules.
Galashiels, Scotland, 3 June, 2009 – ProStrakan Group plc (LSE: PSK), the international specialty pharmaceutical company, today announces that it is to appoint Allan Watson as its new Chief Financial Officer (“CFO”), replacing Paul Garvey, who has indicated to the Board of Directors his intention to step down from the position.
Allan (42), recently announced as Scottish Young Finance Director of the Year, will join ProStrakan, and its Board of Directors, later this year from medical technology company, Optos plc, where he has been CFO since 2003. A Pharmacy graduate, he has held a number of finance positions with companies both within and outside the healthcare sector since qualifying as an accountant.
Allan’s appointment follows the decision by Paul Garvey, ProStrakan’s CFO since 2007, to step down from the role following a period of ill health in 2008. Paul will continue in the role of CFO until Allan joins the Company later in the year.
Commenting on ProStrakan’s change of CFO, Dr Wilson Totten, Chief Executive, said:
“Paul Garvey has made a significant and valuable contribution to ProStrakan since he joined us in 2007 and I regret, as I know he does, that the period of ill health he suffered in 2008 has led him to step down now. I, and his colleagues on the Board and across the Company, wish him continued good health and future success.
“In Allan Watson we have attracted a highly regarded and professional CFO who has a deep understanding of the healthcare sector. His will be a pivotal role as the Company continues to work towards achieving break-even before the end of this year and profitability in 2010.”
Allan holds no further directorship positions and there are no other disclosures required under paragraphs 9.6.13 (1-6) of the FSA’s Listing Rules.
ProStrakan
ProStrakan Group plc is a rapidly growing specialty pharmaceutical company engaged in the development and commercialisation of prescription medicines for the treatment of unmet therapeutic needs in major markets.
ProStrakan’s head office is situated in Galashiels in Scotland. The company’s development capabilities are centred on Galashiels and Bedminster, New Jersey, USA. Sales and marketing of ProStrakan’s portfolio of products are handled by commercial subsidiaries in the UK, US, France, Germany, Spain and other EU countries. www.prostrakan.com
