U.K.-headquartered Sareum Holdings plc (SAR), a clinical-stage biotechnology company on Wednesday announced that Dr. Tim Mitchell, co-founder and Chief Executive Officer would transition to the part-time role of Chief Operating Officer.
Dr. Stephen Parker, currently Non-Executive Chairman, would assume the position of Executive Chairman on the Board.
The Board also intends to seek to appoint a new CEO, at the appropriate time, as the Company and its future strategy develops.
Dr. Mitchell would continue to serve on Sareum's Board of Directors.
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