(CercleFinance.com) – Nicox announced on Monday its intention to separate the functions of chairman of the board of directors and chief executive officer as part of the establishment of a new governance structure which will take effect on June 1.
The ophthalmology specialist announces that its Board of Directors has appointed Andreas Segerros as Chief Executive Officer following its decision to end the mandate of Michele Garufi, co-founder of Nicox and CEO since the company’s inception in 1996.
Segerros – who served as the global head of ophthalmology at Pharmacia – notably helped launch Xalatan, the first ophthalmic drug to generate over $1 billion.
The presidency of the board of directors has been entrusted to Jean-François Labbé, director and chairman of the audit committee, an appointment which however requires a modification of the articles of association to increase the age limit of the chairman of the board.
In the meantime, Michele Garufi will remain Chairman of the Board, of which he will remain a member thereafter.