British drug delivery firm SkyePharma said on Monday its founder and chairman Ian Gowrie-Smith was resigning following a move by some investors to oust him.
A group of investors led by North Atlantic Value said on Friday that Gowrie-Smith was heavily responsible for a strategy of "over-promising on performance but under-delivering."
SkyePharma is in the midst of a strategic review which could lead to its sale. But an industry source told Reuters earlier this month it was more likely that one of the firm's three units would be spun off with the rest run by a new chief exewcutive.
Insiders' view: a few other "over promising but under delivering" Chairmen might have an anxiety attack today!
Source: Reuters
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