Phytopharm, famed for developing an appetite suppressant from a cactus eaten by Kalahari bushmen, is undergoing a change of management after its high-profile co-founder and chief executive stepped down.
Richard Dixey said he felt he had an obligation to move on after 14 years at the helm of the pharmaceutical company that specialises in products generated from medicinal plant extracts. He is succeeded by Daryl Rees, who has been chief operating officer at Phytopharm for six years.
Dr Dixey, 54, said he was leaving "to spend more time being a Buddhist rather than a businessman".
"I care passionately about this company but it is not my company and it is time for a new management team to take it forward," he said.
Dr Dixey, who will retain his 17 per cent stake in the business, said he plans to travel to India, Burma, Sri Lanka and Thailand with his wife and two young children.
More at The Independent
Richard Dixey said he felt he had an obligation to move on after 14 years at the helm of the pharmaceutical company that specialises in products generated from medicinal plant extracts. He is succeeded by Daryl Rees, who has been chief operating officer at Phytopharm for six years.
Dr Dixey, 54, said he was leaving "to spend more time being a Buddhist rather than a businessman".
"I care passionately about this company but it is not my company and it is time for a new management team to take it forward," he said.
Dr Dixey, who will retain his 17 per cent stake in the business, said he plans to travel to India, Burma, Sri Lanka and Thailand with his wife and two young children.
More at The Independent
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