British Biotech appoints new Chairman
Dr Peter Fellner was today elected to the Board of Directors of British Biotech, and will be appointed non-executive Chairman with effect from 1 January, 2003.
Dr Fellner will succeed Mr Christopher Hampson CBE, who will be retiring on 31 December, 2002 after serving as Chairman since 1998.
Dr Fellner (58) has been Chief Executive Officer of Celltech Group plc since 1990, and is Chairman-designate. He will become Chairman of Celltech when his successor as Chief Executive Officer takes up his appointment, which is expected in early 2003.
Dr Fellner commented: "There is currently a significant opportunity to create value within the biotechnology sector, through the consolidation of companies with good R&D and/or pipeline products, which are hampered by high cost bases and inadequate financial resources.
"British Biotech has a strong balance sheet and high quality development skills upon which to build, and I very much look forward to helping create value for the company’s shareholders."
Christopher Hampson said British Biotech was "fortunate to have attracted a man of Dr Fellner’s experience and knowledge to become Chairman.
Tim Edwards, acting Chief Executive Officer of British Biotech, said: "In Peter Fellner, we have a successor who is well equipped to ensure that the opportunities that lie ahead for British Biotech are maximised."
Tim Edwards thanked Christopher Hampson "for his very important contribution to the Company during his four years as Chairman."
Dr Fellner joined Celltech from Roche UK, where he was Chief Executive from 1986 to 1990. He was previously Director of the Roche UK Research Centre, and before that Director of Research at Searle UK Research Laboratories. He is Chairman of two privately held biotech companies, Astex Technology Ltd and Ionix Pharmaceuticals Ltd. He is also a Director of Isis Innovation Ltd, and Synaptica Ltd, and a member of the Medical Research Council.
Elliot Goldstein, the former Chief Executive of British Biotech for four years, stepped down from his position and the Board of British Biotech on 4th November 2002. Tim Edwards, Chief Operating Officer, was appointed acting Chief Executive, until a replacement could be found.
Keywords : British Biotech UK Peter Fellner Chairman Celltech Roche Searle
