Rounding on rebel investors, the U.K.'s SkyePharma has installed a new CEO and rejected the rebels' efforts to put Bob Thian in as chairman, saying he lacks "crucial experience." SkyePharma's Ian Gowrie-Smith stepped down recently after unhappy shareholders pinned the drug developer's poor performance on him. Dr Jerry Karabelas, former CEO of Novartis, was installed as his replacement. Frank Condella has now been named CEO and Dr. Ken Cunningham, former CEO of Arakis, has been hired as COO.
- read this article from the Telegraph
PLUS: According to The Times, the collapse of secret merger talks with a U.S. company last summer triggered the revolt that has rocked SkyePharma. Report