(Alliance News) - Indivior PLC on Monday said Chief Financial Officer Mark Crossley has been made CFO & Operations Manager due to the upcoming retirement of Frank Stier.
Shares in Indivior were up 3.8% at 55.22 pence on Monday afternoon.
Stier is chief manufacturing & supply officer at the pharmaceutical company and intends to retire in 2020. In response to this, Crossley has been appointed as CFO & operations officer with immediate effect.
Indivior Chief Executive Shaun Thaxter said: "To help with an orderly transition and to best position the function, Frank will now report directly to Mark (as will Frank's successor once appointed). This new organizational development acknowledges Mark's strong performance and recognises the ongoing importance of Mark's strategic contributions to the future of Indivior."
"As Mark currently oversees the finance and information technology functions, the addition of closely dependent functions, including manufacturing, supply, and procurement, creates even greater opportunities for improved collaboration and coordination across the departments."
Indivior (INDV)