Skyepharma PLC (SKYE) - Appointment of New CEO
LONDON, UK, 17 August 2010 - Further to the announcement made on 5th May 2010, SkyePharma PLC (LSE:SKP) announces today that it has appointed Dr. Axel Müller as Chief Executive Officer with effect from 23rd August 2010.
The appointment of Dr. Müller follows a comprehensive search process undertaken after Dr. Ken Cunningham notified the Board of his intention to step down as CEO to enable him to focus on a portfolio of non-executive appointments. Dr. Cunningham will remain a Director of the Company until 30th September 2010 to ensure a smooth transition to Dr. Müller. Dr. Müller will be based principally in Muttenz, Switzerland, where SkyePharma has its main research and development activities.
Axel Müller, 53, has more than 25 years of experience in the pharmaceutical industry, with a strong track record of leading boards and companies. He was Chief Executive Officer of Acino Holding AG, Switzerland, a Swiss-based specialist in the development, registration and manufacture of pharmaceutical products, from June 2008 to March 2010, having joined Acino in 2005 as Chief Executive Officer of the CIMEX business unit. Prior to that he was President of Siegfried Generics (part of Siegfried AG, Switzerland) from 2004 to 2005, and Managing Director and Vice President International of Aceto Holding GmbH, Germany, which he joined in 2001 through its acquisition of Schweizerhall Pharma, Switzerland, where he had been President since 1998. Previous appointments were Head of Life Sciences practice at management consultants Arthur D. Little, and a number of R&D and marketing and sales roles at Novartis. Axel Müller is a German citizen with a PhD in Pharmacology from Tübingen University.
Frank Condella, Chairman of SkyePharma, commented: "The Board is delighted to welcome Axel Müller as Chief Executive Officer. He brings significant expertise in general management, including sales, marketing, manufacturing and business and product development. We look forward to him leading SkyePharma's continuing development. We are grateful to Ken for his excellent stewardship of the Group over the past two years and we wish him continuing success in his new endeavors."
In accordance with the disclosure requirements of section 9.6.13 of the Listing Rules, Dr. Müller, was Chief Executive Officer of Acino Holding AG, listed on the SIX Swiss Exchange, from June 2008 to March 2010. There are no other disclosures required in accordance with section 9.6.13.
SkyePharma's results for the half year to 30 June 2010 will be announced on 19 August 2010.
Ken Cunningham joined the Company in April 2006 and was appointed Chief Executive Officer of SkyePharma PLC on 1st September 2008. Aged 57, Ken is a Non-Executive Director of Xention Limited and Chairman of PolyTherics Limited. Previously, he was Chief Executive Officer of Arakis Limited, Vice-President European Affairs of Alza Corporation and Vice-President Clinical Development of Sequus Inc. Prior to this he held a variety of clinical development and commercial strategy roles at GlaxoWellcome plc and Warner-Lambert.
About SkyePharma PLC
Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage and life-cycle extension. The Group has twelve approved products in the areas of oral, inhalation and topical delivery. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com.