Arecor Therapeutics plc (LSE:AREC) has announced changes to the Board, including the appointment of a new Chair to the Audit & Risk Committee and the elevation of the CFO to Executive Director, with immediate effect.
The biopharmaceutical company focuses on drug development and delivery in diabetes and other cardiometabolic diseases.
Simon Ormiston
Simon is a Chartered Accountant and former audit partner at PwC. He has been appointed as a Non-Executive Director and the new Chair of the Audit & Risk Committee. In his c.30 years at PwC, of which more than half was spent as a partner, he specialised in financial accounting, reporting, auditing and risk management, focusing on the growth companies in the life sciences and technology sectors. He has a strong track record of assisting both private and public companies to achieve their strategic ambitions, preparing for IPO and M&A transactions and strengthening governance. His clients included those listed on AIM and the main market of the London Stock Exchange, as well as on other European and US exchanges.
Simon is taking on the Chair of the Audit & Risk Committee from Christine Soden, who has decided to step down from the Board and the Chair role, as part of the board succession plan.
David Ellam, CFO
David was appointed as interim CFO in November 2024, became full time CFO in February 2025 and is now moving onto the Board as Executive Director. He is an experienced finance professional and chartered accountant, with over two decades of experience in the life sciences industry. He has held CFO roles at numerous healthcare companies including Juvenescence, Silence Therapeutics, and more recently, Sixfold Bioscience. He qualified as a Chartered Accountant at PwC.
Andy Richards, Chairman of Arecor said:
“I am pleased to welcome the two new members of the Arecor Board, Simon and David, and give a big thank you to Christine Soden. Chistine joined the Board at the IPO and has been a major support to the Company ever since. The Board is grateful for her contribution.
“Simon has had a long career at PwC and his knowledge of the financial markets, transactions and governance will be very valuable as we continue to grow Arecor. We also thank him for taking on the Chair position on the Audit & Risk Committee, an important role, especially in the life sciences sector. His insight as Arecor pursues its strategy to grow value will be especially helpful. To date, the Audit & Risk Committee has been ably overseen by Christine Soden who is now stepping away from Arecor. She will be missed by us all and we wish her all the best for the future.”
“David has played a constructive and positive leadership role within the executive team at Arecor since he arrived a year ago, working closely with Sarah to run the day-to-day operations of the Company. Most recently, they have been working closely together to drive through the major strategic collaboration with Sequel around AT278 and the monetisation agreement with Ligand Pharmaceuticals. I look forward to having his broader input at the Board.”
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