SkyePharma board appoints new director

SkyePharma has appointed Frank Condella as a director of the firm, with the chief executive taking up his place on the board.

Mr Condella was named chief executive of the pharmaceutical firm in February, when it was announced he would assume the role beginning March 1st.

With experience running the European operations of IVAX before it was bought out by Teva, Mr Condella brings a legthy background in the industry to his post, which he said he was looking forward to.

“I am pleased to be joining the board,” he began. “I have now completed my initial review of SkyePharma’s operations and I have been impressed by the company?s employees, products and technologies.

“I look forward to working with my fellow directors to restructure our business and deliver sustainable profitability for the benefit of all shareholders.”

SkyePharma’s non-executive chairman Dr Jerry Karabelas said he was “delighted” to bring such an experienced senior international manager to the executive table.

Last month rebel shareholders at the firm had sought to bring Bob Thian to the board in order to install him as chairman, but the proposal was defeated in a vote.

Some shareholders have expressed concerns about the company’s performance, claiming a change of leadership was necessary to revive its fortunes.

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