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Animalcare upbeat as it announces CEO's departure
THE CHIEF executive of veterinary products business Animalcare has announced his intention to step down from the business.
Stephen Wildridge will leave the group by the end of October and Dr Iain Menneer, currently managing director of Animalcare Ltd, will take over as group chief executive.
Until October Mr Wildridge will remain with the business as director of strategy and business development driving forward the Dunnington-based business's key product development programmes.
Mr Wildridge has been the architect of the group's successful development since he joined in 2003 the business said.
James Lambert, Chairman of Animalcare, said: "He developed and established the strategy for the business and managed its successful implementation.
"Whilst we will miss Stephen's experience he leaves the group in a strong position and with a proven, capable successor in Iain Menneer to take over as CEO to continue to build our business."
Mr Wildridge said: He said: "Taking Animalcare from a non-core business within a larger group to a successful independent publicly quoted company has been extremely enjoyable.
"Iain has been intimately involved in that success from the beginning and is eminently qualified and experienced to take Animalcare forward in the future."
Dr Menneer joined Animalcare Ltd in December 2003 and has held marketing and business development roles; notably working on the product development pipeline.
The business also reported performance in the first half of the financial year had been strong and in line with expectations with prospects for the second half looking positive.
The launch of new product Vitofyllin and the re-introduction of Buprecare ampoules have had a motivating influence, it said, and it hopes to build on sales of these products throughout the second half.
Revenues for the six months ended December 31 were about 13 per cent higher than in the comparable period last year at about £6.1 million, with gross profit up 16 per cent.