10th Jun 2019 09:13
LONDON (Alliance News) - Vectura Group PLC on Monday said Chief Executive James Ward-Lilley will be stepping down at the end of June.
Paul Fry, chief financial officer, will assume the role of CEO in an interim capacity, the pharmaceuticals company said, while a search for Ward-Lilley's successor will begin immediately.
"Following the successful merger with Skyepharma in 2016, James has demonstrated great resilience building an effective and robust business. This has been reflected in strong 2018 financial and operational performance, followed by positive news flow this year," said Chair Bruno Angelici.
In 2018, Vectura delivered 8.4% revenue growth to GBP160.5 million and operating profit before exceptional items and amortisation of GBP30.6 million, up 70% from GBP18.0 million in 2017.
On Monday, the company said its core focus in 2019 will increasingly be on developing new partnerships and revenue streams.
Vectura shares were trading 1.1% higher on Monday morning at 79.94 pence each.
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