LONDON (AFX) - Phytopharm PLC said it has appointed Daryl Rees as its new chief executive to succeed Richard Dixey, Phytopharm's co-founder who has led the company over the last ten years.

In a senior board shake-up ahead of the group's next phase in its development, it said it has also appointed Piers Morgan as chief financial officer and board director.

Phytopharm said Rees, who has served as the group's chief operating officer for the past six years, will focus on generating growth and value from Phytopharm's strong product portfolio, in particular its Hoodia gordonii functional food obesity programme which is partnered with Unilever and its Myogane and Cogane pharmaceutical neurological products, which are currently in Phase I and II clinical development respectively.

newsdesk@afxnews.com slm