The chief executive of Arix Bioscience PLC (LON:ARIX) is to step aside and move into a new role as part of a reshuffle of the life sciences investor’s executive management team.
Joe Anderson has served as Arix’s CEO since its inception back in 2016 but will transition into his new role as chief investment officer where he will focus on new investments and work with existing group of companies to build and realise value.
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He will continue to chair the investment committee but will step down from the board immediately.
Arix’s executive chairman Jonathan Peacock will assume corporate and operating responsibilities and will work with the board to recruit a new chief executive.
“Arix has come a long way since its formation in 2016 and Joe’s experience as a venture capital investor has played an important role in our success,” said Peacock.
“On behalf of the board, I would like to thank Joe for his contributions as CEO in building the company and I look forward to working with him as Arix embarks on its next stage of growth and development.”
Anderson added that it is “appropriate to develop the leadership structure” as the company prepares for its next stage of growth.