LONDON, UK, 31st January, 2012 - SkyePharma PLC (LSE: SKP) today announces that Axel Mueller has resigned as Chief Executive Officer and a director of SkyePharma PLC with immediate effect to pursue other interests. Peter Grant, Chief Financial Officer since November 2006, has been appointed Chief Executive Officer in his place. Peter Grant will retain responsibility for the Group's financial matters and will oversee the continuing activities to achieve Flutiform™ regulatory approval.
SkyePharma's Chairman, Frank Condella, commented:
"We would like to thank Axel for all his efforts on behalf of the Group and wish him well in his future endeavours. We are pleased that we have an appropriate replacement in Peter Grant. Peter's knowledge of the Group, understanding of the finances, excellent track record in reducing SkyePharma's cost base and experience of the Flutiform™ development and regulatory process over the past five years make him the ideal candidate to take the Company forward. Peter will continue to have responsibility for the Group's finances in his new role, supported by a strong financial team."
About Peter Grant
Peter Grant is a Chartered Accountant and holds an MA in Mathematics from Oxford University. He was previously Interim Chief Executive Officer of Voice Commerce Group, Group Finance Director at Eurodis Electron PLC, Chief Financial Officer at WorldPay plc and Group Finance Director then Group Chief Executive at Molins PLC. Prior to that, he held a variety of senior commercial, financial and general management roles in the General Electric Company plc group. Peter was previously a non-executive director of ShipServ, Inc.
For further information please contact:
Frank Condella, Chairman
+44 207 881 0524
Peter Grant, Chief Executive Officer
Jonathan Birt/Susan Quigley
+44 207 831 3113
Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage. The Group has eleven approved and marketed products in the areas of oral and topical delivery as well as important license and revenue-generating arrangements in inhalation and injectable technologies. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com.
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