13th Jul 2016 09:13
LONDON (Alliance News) - e-Therapeutics PLC on Wednesday said Malcolm Young has stepped down as chief executive officer with immediate effect, and Non-Executive Chairman Iain Ross will take on executive responsibilities.
The company said Young has agreed to make himself available to the company to provide "occasional assistance" for the next six months.
With his departure, Ross will become executive chairman and will lead the search for a new CEO.
e-Therapeutics added Chief Financial Officer Steve Medlicott has been appointed interim chief operating officer, while director Trevor Jones is to take oversight of the firm's Scientific team and will lead a project review.
Shares in e-Therapeutics were untraded on Wednesday, having last traded at 10.35 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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