Pozen Inc., a small pharmaceutical company based in Chapel Hill, North Carolina, specializing in developing therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization, reports that John R. Plachetka, the company's founder, chairman, chief executive officer (CEO), and president is retiring, effective immediately. Dr. Plachetka has also resigned from the company's board of directors and has withdrawn as a nominee for election as a director at the 2015 Annual Meeting of Stockholders.
Arthur Kirsch, who has served as an independent director since 2004, has been appointed to serve as chairman of Pozen's board of directors. The board of directors has appointed Adrian Adams to replace Dr. Plachetka as Pozen's CEO and has also appointed Mr. Adams to serve on the board of directors, effective immediately.
Mr. Adams has more than 30 years of experience in the pharmaceutical industry. He most recently served as CEO and president of Auxilium Pharmaceuticals Inc., a specialty pharmaceutical company, until its acquisition by Endo International plc in January 2015. Prior to joining Auxilium, Mr. Adams served as chairman and CEO of Neurologix, Inc., a company focused on development gene therapies for disorders of the brain and central nervous system. Prior to that Mr. Adams served as president and CEO of Inspire Pharmaceuticals, Inc., where he oversaw the commercialization and development of prescription pharmaceutical products and led the company through a strategic acquisition by global pharmaceutical leader Merck & Co., Inc. Prior to Inspire, Mr. Adams served as president and CEO of Sepracor Inc. until its acquisition by Dainippon Sumitomo Pharma Co. Prior to joining Sepracor, Mr. Adams was Ppesident and CEO of Kos Pharmaceuticals, Inc. until its acquisition by Abbott Laboratories. Mr. Adams has also held general management and senior international and national marketing positions at SmithKline Beecham, Novartis and ICI.