Dr. Achim Kaufhold (50) becomes new Chief Executive Officer and succeeds Jakob Schmidt. The board of directors in Pharmexa intends to nominate Jakob Schmidt as a new board member for election at the next general assembly of the company. Pharmexa is also taking further measures towards the reduction of its cash burn in order to protect the company's assets and shareholder value.
Change in management
Pharmexa's Board of Directors decided today to appoint Achim Kaufhold as its new Chief Executive Officer, effective 2 July, 2008. Achim Kaufhold, M.D, Ph.D, was recently hired as Pharmexa's Executive Vice President, Chief Scientific Officer & Chief Medical Officer. Prior to joining Pharmexa, Achim Kaufhold held a number of executive positions in research, product & business development at GlaxoSmithKline, Berna Biotech (now a Crucell company) and Chiron (now part of Novartis). He succeeds Jakob Schmidt who will join the board of directors contingent on shareholder approval at the next general assembly.