Open Orphan PLC (AIM:ORPH, OTC:OPORF), which is changing its name to hVIVO PLC at the end of this month, has announced the appointment of Stephen Pinkerton as its new chief financial officer (CFO) and as an executive director with immediate effect.
Pinkerton succeeds Leo Toole, who is stepping down to pursue other interests.
The company also announced that following the appointment of Yamin 'Mo' Khan as CEO in February this year, Cathal Friel is reverting to non-executive chairman.
Pinkerton is a chartered accountant with over 25 years of experience in senior financial roles and has served as commercial financial director of hVIVO since July 2017, having previously been a consultant to the company. Prior to joining hVIVO, he spent 11 years in various senior financial roles at Thomas Reuters.
Open Orphan said Pinkerton has a strong background in financial planning and analysis, commercial finance, financial systems and financial control.
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Commenting on his appointment in a statement, Pinkerton said: "Having worked at hVIVO for over six years, both in a permanent role and previously as a consultant, I have built a deep knowledge of the business and forged relationships with many of our longstanding clients as part of the BD team. I am excited to begin this new role as CFO of the wider group as we look to continue the fantastic momentum that we have built in recent years."
Open Orphan CEO Khan added: "I am delighted that Stephen is stepping into the role of chief financial officer. His experience and knowledge of the business mean he is ideally suited to support our growth strategy."
Outgoing CFO Toole, who will remain with the company until 31 December 2022, was appointed CFO in February 2020 following Open Orphan’s acquisition of hVIVO.
The company said he had been a “key member of the team” that helped turn around its financial position and had actively supported its engagement with the UK government to complete the world's first COVID-19 characterisation study in 2021.
“I would like to thank Leo for his significant contribution to the company over the past three years, where he has played a pivotal role in our progress to date,” Khan said.