Pharmaceutical group’s CFO to stand down
Clinigen Group’s chief financial officer Nick Keher is to step down “to pursue other business interests”.
Keher joined the AIM-listed company in early 2019 after four years with RBC Capital Markets. He has stepped down from Clinigen’s board with immediate effect and will depart as CFO after a handover period.
The Burton-based pharmaceutical group has begun an external search for a permanent CFO while Richard Paling, the group’s financial controller since April 2017, will take the role on an interim basis.
Shaun Chilton, chief executive of Clinigen, said: “Nick has played a pivotal role in helping us to deliver on our ambitious strategy against the backdrop of the global COVID-19 pandemic and we wish him every success in the future.”
In June, Clinigen issued a profit warning which it blamed on the changing mix of its revenues away from its higher-margin Products division. Its shares fell 30% and nearly three months later remain 25% lower.