ReNeuron seeks to expand board with new CEO

23rd Apr 2014 12:02

A new chief executive is being sought by AIM-listed stem cell specialist ReNeuron as it enters the next stage of its development.Current Chief Executive Michael Hunt will remain in the role until a replacement is recruited, when he will become Chief Financial Officer.Chairman Bryan Morton said: "After the transformational fundraising in 2013, the recent clearance to enter into Phase II for our lead stroke candidate and ahead of further expansion of the business, we believe now is the right time to initiate the search for a new leader to take the company through the next stage of its development." Hunt added: "With ReNeuron having made its transition to a well-funded, clinical-stage cell therapy business, it is time to reconfigure the leadership team to meet the challenges of the next phase of development."Shares in the company were up 4.53% to 3.12p by midday on Wednesday.OH