Vectura Group plc Announcement of Leadership Changes (6021B)
June 10 2019 - 2:00AM
UK Regulatory
TIDMVEC
RNS Number : 6021B
Vectura Group plc
10 June 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
VECTURA GROUP PLC ANNOUNCES LEADERSHIP CHANGES
Chippenham, UK - 10 June 2019: Vectura Group plc (LSE: VEC
"Vectura" or "the Group") today announces that James Ward-Lilley
will be stepping down from the Board and his position as Chief
Executive Officer ("CEO") on 30(th) June 2019. Paul Fry, Chief
Financial Officer, will assume the role of CEO in an interim
capacity, in addition to his current responsibilities. A search for
a CEO successor will begin immediately.
James was brought in at a critical time for Vectura and has been
instrumental in executing and successfully integrating the merger
with Skyepharma, creating an industry-leading inhaled airways
disease-focused business, with a broad range of device and
formulation capabilities, underpinned by strong intellectual
property. Looking forward, Vectura's core focus will increasingly
be on leveraging these capabilities to develop new partnerships and
revenue streams as a leading provider of enhanced inhaled drug
delivery services.
Bruno Angelici, Chairman of the Board, said: "I would like to
express my sincere thanks to James for his distinguished leadership
of the Group. 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. During his time he has also built a culture of
effective employee engagement and a significantly strengthened and
talented team. The Board and James have agreed that after four
years as CEO it is now time for a new leader to take Vectura
through its next phase of development. We look forward, in due
course, to announcing the appointment of a new CEO."
James Ward-Lilley said: "The strong results delivered in 2018
and the positive start made to 2019 underline today's Vectura as a
growing, cash generative business with a strong balance sheet and
positive pipeline momentum. I am proud to have led the business
over the past four years as CEO particularly through the
transformational integration with Skyepharma. I will leave Vectura
in a strong operational and financial position with a robust
leadership team as the Group enters the next phase of its
evolution. I would like to thank Vectura's industry-leading
employees who have made the Group what it is today. It has been a
privilege to work with them."
-Ends-
For more information, please contact:
Vectura Group plc
David Ginivan - VP Corporate Communications +44 (0)7471 352 720
Elizabeth Knowles - VP Investor Relations +44 (0)7767 160 565
Consilium Strategic Communications +44 (0)20 3709 5700
Mary-Jane Elliott / Susan Stuart / David Daley +44 (0)7739 788014
Forward-looking statements
This press release contains forward-looking statements,
including statements about the discovery, development and
commercialisation of products. Various risks may cause Vectura's
actual results to differ materially from those expressed or implied
by the forward-looking statements, including: adverse results in
clinical development programmes; failure to obtain patent
protection for inventions; commercial limitations imposed by
patents owned or controlled by third parties; dependence upon
strategic alliance partners to develop and commercialise products
and services; difficulties or delays in obtaining regulatory
approvals to market products and services resulting from
development efforts; the requirement for substantial funding to
conduct research and development and to expand commercialisation
activities; and product initiatives by competitors. As a result of
these factors, prospective investors are cautioned not to rely on
any forward-looking statements. We disclaim any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
About Vectura
Vectura is an industry-leading inhaled product formulation,
device design and development business offering a uniquely
integrated inhaled drug delivery platform. We develop inhalation
products to help patients suffering from airways diseases.
Vectura has ten key inhaled and eleven non-inhaled products
marketed by partners with global royalty streams, and a diverse
partnered portfolio of drugs in clinical development. Our partners
include Hikma, Novartis, Sandoz (a division of Novartis AG),
Mundipharma, Kyorin, Baxter, GSK, UCB, Bayer, Chiesi, Almirall,
Dynavax and Tianjin KingYork.
Vectura's strategy is to fully leverage its differentiated
technology and skills, maximising value by enhancing the delivery
and performance of inhaled products, and through the development of
high-quality generic alternatives to branded therapies.
For further information, please visit Vectura's website at
www.vectura.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAUKVARKVANRUR
(END) Dow Jones Newswires
June 10, 2019 02:00 ET (06:00 GMT)
Vectura (LSE:VEC)
Historical Stock Chart
From Apr 2024 to May 2024
Vectura (LSE:VEC)
Historical Stock Chart
From May 2023 to May 2024