ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) said Catherine Isted has stepped down as chief executive of the stem cell specialist with immediate effect.
Iain Ross has been appointed executive chairman on an interim basis and will lead the restructuring of the business.
Barbara Staehelin, ReNeuron’s senior independent director, said: "We would like to thank Catherine for her contribution over the past 17 months, initially as CFO and more recently as CEO, and wish her well in the future.
“We are excited about the future of the company and are very grateful to Iain for agreeing to lead the company going forward.
“He is an experienced industry executive who has led several successful biotech turnarounds, including more recently that of Redx Pharma and Silence Therapeutics."