British Biotech plc Directorate Change.Business Editors LONDON--(BUSINESS WIRE)--Nov. 4, 2002 British Biotech British Biotech was a British based biotech company. British Biotechnology Limited was founded in 1986 by former G D Searle managers Keith McCullagh and Brian Richards, [1] plc (LSE LSE - Language Sensitive Editor : BBG BBG Brooklyn Botanic Garden BBG Broadcasting Board of Governors BBG Bloomberg (financial company) BBG Bundesbeamtengesetz (German Law) BBG Bergbau-Berufsgenossenschaft (Germany) ; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BBIOY) ("British Biotech" or the "Company") announces that Dr. Elliot Goldstein has resigned from his position as Chief Executive Officer and from the Board of the Company with effect from the end of the Annual General Meeting being held today. A search for a replacement has been initiated and Mr. Tim Edwards
Timothy Edwards (born 24 June, 1974) is a former English cricketer, who played first-class and List A cricket for Worcestershire and minor counties cricket , currently Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has been appointed acting Chief Executive with effect from the end of the Annual General Meeting. Mr Christopher Hampson, Chairman, said: "During his four years as Chief Executive Officer, Elliot and his executive team have done a commendable job dealing with the issues they inherited. The product portfolio has been expanded, cash burn has been reduced and brought under tight control, the Company has been restructured and its drug development expertise is well recognized across the industry. Nevertheless, despite these efforts and the Company's relative financial strength and excellent staff, success has proved elusive and the market continues to ascribe a low value to the Company. "In the circumstances, the Board has concluded that new leadership is appropriate and Elliot Goldstein has agreed to step down. "I would like to pay tribute to Elliot for his leadership. He has worked with energy and drive to restructure the Company, establishing a good platform for the future. He has been tireless in seeking ways to enhance shareholder value and the Board is very appreciative of all he has done. We wish him well for the future." |
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