Alliance Pharma PLC - Chippenham, Wiltshire-based distributor of consumer healthcare brands and prescription medicines - Shares close down 14% in London on Wednesday, after Alliance Pharma says Chief Executive Officer Peter Butterfield has decided to leave the company "to pursue other business interests". Following a "comprehensive" search process, it appoints Nick Sedgwick as new CEO, starting on Monday next week. Sedgwick has 30 years experience in consumer health, Alliance Pharma says, most recently as regional director for UK & Ireland Consumer Health at Reckitt Benckiser Group PLC. Butterfield will remain with Alliance Pharma until June 30 to facilitate a "thorough" handover, it says. Butterfield joined the board in 2010 and became CEO in 2018.

Alliance Pharma also notes that its 2023 results will not be published on Tuesday next week, as its audit continues. The company had already delayed its results twice, saying at the beginning and end of April that Deloitte LLP needs more time. It repeats that the details of its January trading update remain accurate.

Current stock price: 27.45 pence

12-month change: down 59%

By Tom Waite, Alliance News editor

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