LONDON (Alliance News) - Dechra Pharmaceuticals PLC, the FTSE 250 veterinary pharmaceuticals company, on Friday named Tony Rice as its new chairman, appointing the former chief executive officer of Cable & Wireless Communications PLC to succeed Mike Redmond in October.
Rice has joined initially as a non-executive director, with the intention being that he will take over as chairman following Dechra's annual meeting of shareholders scheduled for October 21. The new chairman is currently senior independent non-executive director and chair of the Remuneration Committee at Halma PLC.
"Over my tenure I have witnessed Dechra grow from a UK services business into a global specialist veterinary pharmaceuticals group. This solid international footprint today provides the foundation for the ongoing development of our business model. Tony will bring a new perspective to the team, and I am in no doubt that he will make a strong contribution to the delivery of our strategic goals into the future," Redmond said in a statement.
Chief Executive Officer Ian Page welcomed Rice to Dechra, saying the new chairman has "extensive knowledge" of international businesses and "a solid understanding of key strategic drivers".
After almost six years' service to Dechra, the company also said Chris Richards intends to step down from his position as a non-executive director with immediate effect.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Halma (HLMA)