C4X Discovery Holdings PLC (AIM:C4XD) has announced that Eva-Lotta Allan will be stepping down as its chair after five years of service, with immediate effect, and that its chief executive officer (CEO) Clive Dix will simultaneously take on the role of interim executive chair.
The drug discovery company said a search will commence to find a new CEO. Dix, who has held various leadership positions at C4XD over the past nine years, will serve as interim executive chair until a new CEO is appointed, ensuring a smooth transition. Subsequently, it is expected that Dix will assume a non-executive board role.
Allan, who assumed the role of C4XD chair in July 2018, is resigning to focus on her other board director roles. In a statement, Allan commented: "Over the past five years we have built a commercially attractive pipeline and executed several value-creating deals for C4XD programmes with leading pharma companies and, after five years, I now feel it is the right time to hand the reigns to Clive as interim executive chair."
She added: "A smooth succession plan will allow us to bring in a new CEO with the right experience to take the company to its next stage, thereby ensuring that C4XD continues to deliver on its vision, strategy and, most importantly new therapies to improve the lives of patients with immuno-inflammatory diseases. I have enjoyed working with the CX4D team and the board and wish everyone at C4XD well."
Dix expressed his gratitude towards Allan, commenting: "I would like to thank Eva-Lotta, both personally and on behalf of the board, for her guidance and support over the past five years as, together, we have built C4XD into a strong company with an established reputation for drug discovery expertise."
Dix also conveyed his confidence in the business and his commitment to finding a suitable CEO successor to drive the new strategy forward, with a focus on immuno-inflammatory diseases.