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Arana Announces Resignation of CEO



Thursday, 06 November 2008 Sydney, Australia:


Biotechnology company Arana Therapeutics Limited (ASX: AAH) today announced the resignation of Chief Executive Officer and Managing Director John Chiplin.


Robin Beaumont, Chairman of Arana said: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“We wish to thank John for his service and contribution to Arana Therapeutics over his three year tenure. John has led the company through a period of rapid change and significant progress, including the sale of PeptechÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Domantis shareholding, the successful merger last year of Peptech with EvoGenix and the rationalisation and focusing of the technology portfolio. The Board and John have now determined that this is an appropriate time to transition the CEO role and we will now focus on ensuring that his replacement will be the best available person to lead Arana in its next stage of development.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ


The Board will be undertaking a search for a new CEO, as well as appointing an acting CEO. Announcements on these appointments will be made in due course.



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There is nothing hiding within this announcement.


A company does not go for an IND in RA without some extreme confidence in the Phase 2 trials currently in place.


JC might have been very good, maybe he was in the wrong place at the wrong time.


Dr Fuller would be the ideal replacement,


Someone that addresses the shareholders with respect and honesty.

Someone that knows the science.


Dr Fuller has impressed myself and others, my vote would go to him as a replacement either in a temporary or permanent role.


The Board should with due respect consider him as a candidate.


Without being contrive will the CFO be replaced or maybe the Vice president of BD.




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In reply to: Bryce on Thursday 06/11/08 11:17pm

Not to make to fine a point of it, Dr Fuller is


Someone that addresses the shareholders with respect and honesty.

Someone that knows the science.


Dr Fuller would make an excellent CEO whilst remaining committed to the CMO role.




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In reply to: Lizard on Thursday 06/11/08 02:20pm

"The Board and John" seems a telling phrase... is this a surprising indication of a degree of dissatisfaction from the Board?


Shite! 80 cents, gone nowhere in a year - I'm surprised it took so long! ;D


Shareholders run the board these days, I'm sure their just as pissed as the rest of us. One of the duties of the CEO in a publicly listed company is to ensure adequate value of capital is reflected in the share price (well, IMO anyhow). I'm sure Mr Chiplin has done his best, but its pretty obvious to all that brokerage houses, institutions etc are even less interested now than before his tenure - wonder what the ex ceo of domantis is doing these days?/// http://www.sharescene.com/html/emoticons/wink.gif

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