Adaptimmune Reveals Succession Plan For Chairman

Adaptimmune Therapeutics PLC - ADR ADAP disclosed a succession plan for the chairmanship position, which would take effect at the end of the current year. According to the company, in a planned transition of responsibilities, its chairman, Jonathan Knowles, would step down from the board on December 31. The company added that David Mott would succeed as chairman from January 1 next year.

Adaptimmune said that Mott has been named as vice-chairman for the duration of the transition period. The company indicated that he has served as a non-executive director of Adaptimmune since September 2014.

The company said that Knowles served as a non-executive director of Adaptimmune since September 2011 and as chairman since November 2013. The company has secured its position as a transatlantic leader in immune-oncology during a period, which has seen Adaptimmune develop its industry-leading pipeline of SPEAR T-cell therapies in solid and hematologic cancers. Aside from that, the treatment expanded its UK research facilities and established clinical trials sites across the United States.

Knowles also credited for reshaping and leading a transatlantic board that now included key players from the United States' most prestigious biotechnology investment groups and pharmaceutical businesses, and members with specialist financial expertise.

The current chairman commented, "It has been a privilege and a great pleasure to oversee Adaptimmune's successful expansion. The Company is now recognized as a clear leader in the immune-oncology space with a strong scientific and clinical track record in T-cell therapy driven by a focus on unmet patient need. It has been an incredible journey and I look forward to seeing Adaptimmune build further on its strong position."

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He continued, "I am personally delighted that David Mott has agreed to take on the Chairmanship role. His distinguished public company board experience in both the USA and Europe, married with his renowned commercialization, fundraising and business development abilities, will be invaluable to Adaptimmune through its next stage of development."

CEO James Julian Noble commented, "We are fortunate, however, in having David Mott as successor Chairman and delighted that we could persuade him to take on this commitment. I look forward to working closely with David as we enter the next phase of development and commercialization."

At time of writing, Adaptimmune was trading essentially flat on the day, up 0.09 percent.