Addex says adieu to CEO Vincent Mutel, as board looks for action
This article was originally published in Scrip
Executive Summary
In professional sports it is not an uncommon sight to see a new owner come in and decide they want their own management to run the franchise in a manner that suits their style. So no one should be that surprised when the same happens in the biotech industry. Dr Vincent Mutel's departure as CEO of Addex Pharmaceuticals comes just months after the arrival of activist shareholder Biotechnology Venture Fund, which now owns 30% of the company, and the election of Oleg Nodelman to the company's board.