Chief executive of pharmaceutical company parts ways with business

The chief executive of Wiltshire pharmaceutical company Alliance Pharma is to leave the business.

The AIM listed company has announced that Peter Butterfield, has decided to leave the business in order to pursue other business interests.

The announcement came on the day that the company also revealed that the publication of its preliminary results for the year have been delayed for a second time.

Just over 18 months ago  Alliance Pharma was warned Peter Butterfield could lose his job as company director following an investigation by the UK competition watchdog.

Butterfield, who has been CEO since 2018, faced a Competition Disqualification Order by the Competition and Markets Authority for his involvement in alleged anti-competitive practices in relation to the sale of prescription anti-nausea tablets.

However, after taking a lengthy leave of absence from his job Butterfield returned to the role of chief executive last year.

This morning  it was announced Nick Sedgwick has been appointed as the new chief executive.

Butterfield will remain at Alliance until the end of June to facilitate a thorough handover.

Peter joined the Board of Alliance in 2010 and became CEO in 2018, driving a strategy to increase the focus on consumer healthcare and extending the company’s global reach into APAC and the US.

Nick Sedgwick brings thirty years of consumer health experience across European, US and global roles at major multinational companies such as Reckitt, Coty and Nestlé.

Most recently Nick was regional director for UK and Ireland Consumer Health at Reckitt during which time he increased revenue and improved profitability in the second largest market for the company.

Prior to this, Nick worked at Coty holding a number of senior roles including senior vice president for global sales and commercial capabilities, senior vice president sales for the US business and general manager consumer beauty for UK and Ireland.

Throughout his career, Nick has worked in multiple countries, always delivering high revenue growth through consumer-centric strategies, high performance teams and excellence in execution.

Camillo Pane, chair of Alliance, said: “The board and I would like to thank Peter for everything that he has done for Alliance. He led Alliance’s transition towards Consumer Healthcare and Group revenues have almost doubled since he became CEO. We wish Peter well in his future endeavours.

“We welcome Nick to Alliance and look forward to working with him as he leads the Company through the next phase of its growth and development.”

Peter Butterfield said: “It has been a genuine privilege to lead Alliance over the last six years through a period of growth and transformation. I am very confident that the Company is in good hands and look forward to seeing it go from strength to strength.”

Nick Sedgwick said: “I am really excited to be joining Alliance at such an important time for the business. I look forward to getting to know the Company in depth over the next few months and working with the management team to deliver the next phase of growth.”