The boss of ReNeuron Group PLC (AIM:RENE) is stepping down from the company following the scrapping of its retinitis pigmentosa trials.
The company announced that current chief executive officer and executive director Olav Hellebø would leave the company on 28 February, after seven years in the role.
ReNeuron said its chairman Iain Ross will assume responsibility for running the company, supported by chief financial officer Catherine Isted and the leadership team.
Hellebø said: "Following ReNeuron's recent change in strategy, the time has come for me to pursue other opportunities.
“I would like to thank employees and other stakeholders who have been instrumental in pursuing our pioneering technologies over many years."
On 18 January the company announced it would halt its retinitis pigmentosa trials after “inconclusive” data for their stem cell therapeutic treatment, saying continuation of those trials would not be commercially viable or in the best interests of the shareholders.
The change of management follows the company’s pivot in strategy to focus on the commercial potential of exosome technology and out-license its human retinal progenitor cells (hRPC) programme.