Vernalis plc [LSE:VER] announces today changes in its management organisation linked to the strategic restructuring of its business summarised in the accompanying announcement. The key organisational changes are as follows:
• Simon Sturge will step down from his position as CEO and a Director of the Company at the end of this month, by mutual agreement with the Board.
Following this, the management organisation described below will report directly to Dr Peter Fellner, Executive Chairman. • John Slater, currently General Counsel, with responsibility also for Business Development, is appointed as Chief Operating Officer, with immediate effect. In addition to his existing responsibilities, the Research and New Product Development functions will report to him for all operational matters. Dr Fellner will oversee the scientific and clinical elements of the R&D programmes.
• Tony Weir will continue as Chief Financial Officer.
Commenting upon these changes, Peter Fellner, Executive Chairman said: “I would like to thank Simon Sturge on behalf of the Board for his contribution to the development of Vernalis over the past years, and for his recent involvement in the preparations for the announced strategic reorientation and restructuring of the Company. The Board and I wish him every success in his future career. I look forward to working directly with the management team to implement this revised business strategy”.
Enquiries: Vernalis plc +44 (0) 118 977 3133 Peter Fellner, Executive Chairman Brunswick Group +44 (0) 20 7404 5959 Jon Coles Justine McIlroy Alex Tweed
