2_800x533_L_1412520354.jpg)
Proactive Investors - Faron Pharmaceuticals Limited (LON:FARN) said chief operating officer Dr Juho Jalkanen will be its next chief executive, taking over when Dr Markku Jalkanen retires at the start of May.
The company said Markku Jalkanen, who turns 70 later this year, informed the board of his wish to retire from his position but remain a board member.
Faron, which last week raised €4.8 million to allow it to complete a phase II trial of its promising cancer treatment, said the nomination committee considered several options for a potential new CEO among external and internal candidates, concluding that Juho Jalkanen, who is a medical doctor and has a Masters in economics, would be the best candidate.
Markku Jalkanen will continue as a board member and support the transition of the CEO role throughout 2024, the company said.
"I have worked for the company since its inception in 2006 and feel that now is the right time for me to retire as CEO," said Markku Jalkanen.
"The board and I have a plan for a seamless CEO transition and now is the time to make that move. I will continue to give my support to the company and the new CEO in my continuing role as board member. I also strongly believe in the promise of bexmarilimab to provide a new safe and effective cancer treatment option for a vast patient group, either as a stand-alone or combination therapy."