Life science investment company Malin Corporation said today that its chief executive Darragh Lyons will step down from the role before the end of the year.
The company said that Fiona Dunlevy will assume the role of Executive Director from October 2 and will join Malin's board of directors.
Malin's Chairman, Liam Daniel, will also undertake additional responsibilities as an Executive Chairman in October.
The company said its leadership will transition from Mr Lyons to Ms Dunlevy and Mr Daniel over the following period.
They will continue the work to maximise shareholder returns by protecting and enhancing the value of Malin's remaining positions in its investee companies, it stated.
It added that Mr Lyons will step down as member of the board on his departure as CEO.
"The leadership changes are consistent with the continuous aim of operating within a lean and efficient infrastructure that is aligned with the breadth of the underlying assets," the company said in a statement.
"Darragh has successfully led the Malin business since 2019 and during this time, Malin has made considerable progress in executing on its business strategy and returning capital to shareholders," Mr Daniel said.
"The board of directors is delighted that Fiona Dunlevy, who has been with Malin in various leadership roles since 2015 and most recently served as Company Secretary, has agreed to work with me in leading the business going forward," he said.
"Darragh will work closely with Fiona and me over the coming months to ensure that there is a comprehensive transition of leadership responsibilities," he added.
Shares in the company were lower in Dublin trade today.
