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Verona Pharma on Thursday said Chief Financial Officer (CFO) Danny Lowe would be replaced by Richard Bungay with immediate effect.Bungay will work part-time at the respiratory treatments specialist at first and Lowe will work with him for an interim period to make sure there is a smooth handover. Lowe joined Verona in 2006 and is based in Canada.Bungay is part-time Chief Executive of Chroma Therapeutics and has worked in the biotech and pharma industries for nearly 20 years including a spell as director of corporate communications at Celltech Group.Jan-Anders Karlsson, Chief Executive of Verona Pharma, said: "Richard's experience in financial management of innovative R&D-based businesses as well as his experience in investor relations will be invaluable to Verona Pharma as we move our key clinical programmes forward and grow the Company. "We would like to thank Danny for his significant contributions to Verona Pharma over the last seven years."