Ark Therapeutics names new chief executive officer

Ark Therapeutics has announced that Dr David Venables is to succeed Martyn Williams as chief executive officer (CEO) of the company.

Dr Venables will take charge of the business on August 1st 2012, having joined the medical technology firm's board in April in a role focused on the progression of Ark's viral development and manufacturing capabilities.

He has crafted a promising plan to build a sustainable revenue-generating business utilising Ark's extensive proprietary science base.

Meanwhile, Mr Williams – who has been with the company since 1998 and became CEO in 2010 – will leave Ark Therapeutics on July 31st 2012, having overseen a significant transformation at the firm over the last two years.

The outgoing CEO said: "Having led the company through the first stage of its transformation and recruited such an able successor, I know the time is right for me to hand over to David."

This comes after the firm appointed Kassim Kolia as its new head of business development last month.