(Alliance News) - Malin Corp PLC said that its Chief Executive Officer Darragh Lyons will resign from his position before the end of 2023, and that Fiona Dunlevy will become executive director effective from October 2.
Malin, a Dublin-based investor in life science, said that Chair Liam Daniel will undertake additional responsibilities as an executive chair from October 2.
"The leadership of the company will transition from Lyons to Dunlevy and Daniel over the following period and they will continue to work to maximise shareholder returns by protection and enhancing the value of Malin's remaining positions in its investee companies," Malin said.
Chair Daniel said: "Darragh has successfully led the Malin business since 2019 and during this time, Malin has made considerable progress in executing on its business strategy and returning capital to shareholders.
"Darragh will work closely with Fiona and me over the coming months to ensure that there is a comprehensive transition of leadership responsibilities."
Fiona Dunlvey said: "Having worked closely with Darragh in managing our assets for several years, I believe that there is significant, I believe that there is significant additional value creation potential in our remaining assets which can support additional returns of capital to our shareholders."
Shares in Malin Corp were flat at EUR4.64 on Tuesday afternoon.
By Will Neill, Alliance News reporter
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