Ovoca Bio PLC Directorate Change

RNS Number : 2941W

Ovoca Bio PLC

15 July 2024

 

 

Ovoca Bio PLC

15 July 2024

 

This announcement contains inside information

 

Ovoca Bio plc

 

("Ovoca" or the "Company")

 

Ovoca Bio Announces Management Change

 

Dublin, Ireland, 15 July 2024 - Ovoca Bio, a biopharmaceutical company with a focus on women's health, announces the following change in management and board composition. Kirill Golovanov has informed the Board of his intention to resign from his role as Chief Executive and an Executive Director of the Company, with effect from 1 August 2024. At the same time, Timothy McCutcheon will become Chief Executive Officer and remain as a Director of the Company.

 

Mr. Golovanov stated: "It has been a pleasure to serve as Executive Director of Ovoca for the past 12 years and it is with a heavy heart that I am leaving the Company. However, with the end of the Company's efforts to develop Orenetide, I believe now is the appropriate time for Ovoca to have new leadership and change direction. I wish Mr. McCutcheon the best in his efforts to re-position Ovoca  and I wish all the team at Ovoca the very best for the future."

 

Mr. McCutcheon commented: "I would like to thank Mr. Golovanov for his long service to the Company, and I know it was a difficult decision for him to decide to step down. I am excited to take on the role of Chief Executive of Ovoca and to work with my colleagues to deliver future value for shareholders, both through realizing the value from our existing assets and also exploring new opportunities where we can leverage our existing skills and knowledge. I look forward to updating stakeholders on our progress in the coming months."

 

In addition to the management change, Mr. McCutcheon has acquired from Mr. Golovanov his stake in Ovoca, totaling 19,506,203 ordinary shares.

 

Mr. McCutcheon is a capital markets professional and corporate manager with over 25 years' business experience.  He has served as CEO and Director of several public natural resource companies with assets in Canada, Chile, Kyrgyzstan, Ghana, Mali, Russia, Slovakia and USA. Prior to his role as company manager, he was an award winning equity analyst at a major brokerage firm and founder of a boutique merchant bank specializing in the mining sector. Mr. McCutcheon obtained his BA his MBA in finance from Columbia University.

 

End

 

For further information:

 

Ovoca Bio plc

Kirill Golovanov (Chief Executive)

Tel [phone]

[e-mail]

 

Davy (Nominated Adviser, Euronext Growth Listing Sponsor and Broker)

Ivan Murphy / Daragh O'Reilly

Tel: [phone]

 

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