Addex Pharmaceuticals CEO Steps Down

07-Jun-2011 - USA

Addex Pharmaceuticals Ltd announced that Vincent Mutel, PhD, has stepped down from his position as CEO of the Addex group. Mr. André J. Mueller, chairman of the board of Addex, will act as executive chairman and lead an operational subcommittee of directors to manage the transition until a new CEO is appointed.

Under Mr. Mutel's leadership, Addex has become a world leader in the field of allosteric modulator drug discovery and formed significant drug development partnerships with leading pharmaceutical companies. During this time, the company successfully completed several financing transactions, while also receiving grants and awards from non-profit and industry organizations.

The Board of Directors will be working closely with Mr. Mueller  to consider Mr. Mutel's replacement. The Board also has invited Mr. Mutel to consider a possible future advisory role at Addex.

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