Photocure ASA - Photocure announces Key Changes to the Board of Directors

Published: 28 April 2011Organisational Announcements
<p><b>OSLO, Norway, 28 April 2011</b></p> <p><b>&nbsp;</b></p> <p>Photocure (OSE:PHO), a Norwegian pharmaceutical company specializing in dermatology and cancer, today announced key changes to the Board of Directors.</p>  <p>Åse Aulie Michelet was elected Chairman of the Board at the General Assembly Meeting held on April 27. She had been a board member of Photocure from 1997 to 2003 and rejoined the board again in 2010. Åse succeeds Erik Engebretsen, who served as Chairman since 2002.</p>  <p>" I am thrilled to take this position at such an exciting time in Photocure's history, as the transformation from a research based company to a specialty pharmaceutical company comes to fruition", said Åse Aulie Michelet. "On behalf of the entire Board, I want to personally thank Erik for his outstanding leadership and the multitude of contributions he has made to Photocure during his tenure as Chairman. " </p>  <p>Additionally, two new board members, Xavier Yon and Ingrid Wiik, were elected to join current members Jon Hindar, Mats Pettersson and Eva Steiness. </p>  <p>" I wish to also thank Kari Eian Krogstad, CEO of MediStim ASA, for her contributions to the Board of Photocure since 2007", said Åse Aulie Michelet.</p>  <p>Xavier Yon brings to Photocure more than 40 years of experience in the pharmaceutical industry. Most recently, he was President and CEO of Galderma. Under Xavier's leadership Galderma grew into being the leading dermatology company globally. Since he retired from Galderma in 2004 he has been the principal in an independent consulting firm. He is board member of Virbac Animal Health and Graceway Pharmaceuticals. Xavier holds a degree in Physics, Chemistry and Biology from Sorbonne University, Paris and attended the Advanced Management Program at Harvard University.</p>  <p>Ingrid Wiik has spent more than 30 years in the pharmaceutical industry, both in R&amp;D and general management, and has extensive leadership and international experience. She was President and CEO of Alpharma Inc, a position she held from January 2000 until June 2006. Prior to this, Ingrid was Vice President and President of the International Pharmaceuticals Division at Alpharma. She is an experienced board member and currently holds several board positions. Ingrid holds a Master of Pharmacy degree from the University of Oslo, a MSc degree (Biopharmacy) from University of London and a MBA from BI Norwegian Business School.</p>  <div>This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)</div>

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