SkinBioTherapeutics PLC (LON:SBTX) is to appoint Smith & Nephew PLC’s (LON:SN.) former sales and marketing boss Stuart Ashman as its new chief executive.
Regulatory due diligence checks still need to be carried out, SkinBio said, but the plan is for the 52-year-old to replace Cath O’Neill following a “period of transition”.
This will allow O’Neill to focus on the scientific development of the company and the ongoing commercial discussions she has initiated.
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For the past five years, Ashman has served as the CEO of Finnish private equity-backed medical device maker Onbone.
Prior to that, he was the boss of Andover Healthcare, a US-based wound management manufacturer.
The army veteran also served as the director of sales and marketing at FTSE 100-listed Smith & Nephew in its wound care, casting and bandaging division.
“[Ashman’s] proven track record with both SMEs and larger public companies in Europe and the US will be essential in driving the Company forward as we progress our first product towards commercialisation,” said chairman Martin Hunt.
“He has a considerable network within the medtech and life science industries and he has the experience and drive to take us forward on the next stage of the company's development.”
Ashman said it would be “tremendous opportunity” to take over as SkinBio’s new boss.
“Upon appointment, my immediate focus for the company will be to continue to support the clinical development of the technology whilst building on the ongoing commercial discussions.”