17th Dec 2019 15:28
(Alliance News) - Silence Therapeutics PLC said Tuesday that Non-Executive Chair Iain Ross will be appointed as executive chair effective January 1.
The company said Ross will work alongside Chief Executive Officer David Horn Solomon, who will increasingly focus on implementing the company's strategy in the US.
The company said Ross re-joined its board as non-executive chair in April. Snce that time, he has been working closely with Solomon, who has strengthened the management team with several high-profile appointments including Rob Quinn, chief financial officer and Giles Campion, head of research & development and chief medical officer.
During this period, Silence also announced a development and licensing deal with US drugmaker Mallinckrodt Pharmaceuticals PLC and has held discussions with other potential partners, Silence said.
In addition, the company said that in anticipation of an increased focus on the US, Dave Lemus, a non-executive director, will take over the chair of the audit & risk committee from Alistair Gray, who will become senior independent director. The company said it also intends to appoint two more non-executive directors and senior managers with US experience.
Separately, Silence said the Solomon is subject to a private creditor action in Demark, relating to his time as managing partner of Sund Capital ApS from 2016 to 2018. Silence said a bankruptcy motion has been filed against Solomon and will be heard in the next few days.
"David is keeping the Silence board closely informed on developments in relation to this matter and is confident that in time he can meet his financial obligations," the company said, noting Solomon remains CEO of Silence.
Silence Therapeutics shares were down 5.7% in London at 462.00 pence each on Tuesday afternoon.
By Loreta Juodagalvyte; [email protected]
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