Published on August 31, 2009 at 4:26 AM
LifeCycle Pharma A/S (OMX: LCP) announced today that the Board of Directors of LCP and Jim New have agreed to terminate the contract with Jim New. Hence, Jim New will with immediate effect step down as the President and CEO of LCP. The termination is related to different views on how an international company based in Scandinavia shall be managed.
The Board of Directors will immediately commence the search for a new CEO. Until a new CEO has been identified, Paul Edick, Chairman of the Board of LCP, and Dr. Thomas Dyrberg, constituted Deputy Chairman of the Board, will, upon request from the Board of Directors, assume such specific assignments for the Company, which are necessary to ensure LCP's continual and uninterrupted business together with the management of LCP.
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