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Highlights:
- Celadon Pharmaceuticals announced CFO Jonathan Turner will step down from his position on 27 December.
- The company has begun the search for a successor, with an update to follow once a new CFO is appointed.
- Shares in Celadon Pharmaceuticals fell 20.55% to 29p following the news.
Celadon Pharmaceuticals (LSE:CEL), an AIM-traded firm, announced on Monday that its chief financial officer, Jonathan Turner, will be stepping down from his role. Turner is set to vacate his position on the company’s board on 27 December.
The company confirmed that it has initiated the search for Turner’s successor and will provide an update once a new CFO has been appointed. No specific reason for his departure was provided, but the company expressed its commitment to ensuring a smooth transition as it navigates the change in leadership.
Following the announcement, shares in Celadon Pharmaceuticals fell sharply, dropping by 20.55% to 29p as of 1507 BST. The company did not provide further details regarding the impact of Turner’s departure but reassured stakeholders that the process of finding a replacement is already underway.
Celadon Pharmaceuticals is known for its work in the pharmaceutical sector, and the departure of its CFO comes at a critical time as the company continues to develop its strategic initiatives. The focus will now shift to finding a qualified candidate to take over the role and maintain the company’s financial direction.
