Proposed Board Changes

10 Jan 2008 07:01

Fulcrum Pharma PLC10 January 2008 Final 10th January 2008 FULCRUM PHARMA PLC ("the Company") Succession planning for growth and integration of European businesses for improved profitability Fulcrum Pharma plc (AIM: FUL), the drug development and regulatory servicescompany, announces that Jon Court, Chief Executive Officer, has indicated hisdesire to step down as Chief Executive. Fulcrum has grown from a small UKbusiness of under 10 people at the time of its listing on AIM in 2000 to onewith offices on 3 continents, with over 150 employees and revenues of £11.5M. DrCourt considers that the Company's long term prospects will be better served bythe appointment of a Chief Executive with the experience of managing a large,multinational business. The Board has accepted Dr Court's wishes and the processof searching for a new Chief Executive has commenced. In addition to these succession plans, the Board is preparing the Company forits next growth phase. Dr Angus Bell, non executive director, has been appointedto lead the integration of its businesses in Europe to improve profitability andenable further expansion through organic growth and M&A activity. Dr Court will remain with the company in a business development and clientproject role focussing on long term client relationships. Jon Court, Chief Executive of Fulcrum Pharma, said: "Fulcrum has changedsubstantially from when I co-founded the business in 2000. I now feel that thetime has come for Fulcrum to appoint a new chief executive with the requisiteskills and background to take the business further forward. I remain, however,fully committed to Fulcrum and look forward to working closely with Dr Bell andthe new chief executive once he or she is appointed" For further information, please contact: Fulcrum Pharma PLCJon Court, Chief Executive Tel: 0870 710 7152 Seymour PierceJonathan Wright Tel: 0207 107 8000 About Fulcrum Pharma plc Fulcrum Pharma plc is a drug development and regulatory services business thatprovides global expertise to achieve drug development and regulatory approvalmilestones. Fulcrum Pharma offers immediate access to a highly credible,integrated development team that provides strategic and operational leadershiprequired to ensure that new drugs move smoothly from discovery research toproduct approval Fulcrum Pharma is listed on the AIM Market of the London Stock Exchange havingsuccessfully floated in March 2000. This information is provided by RNS The company news service from the London Stock Exchange