Mesoblast (ASX:MSB) has announced that Joseph Swedish has chosen to step down as chair and will remain on the board until completion of his term at the company's annual general meeting later this year.
The company said the board has unanimously appointed Jane Bell AM to the role of non-executive chair effective today.
"The Board acknowledges and thanks Mr Swedish for his dedicated service as Chair of Mesoblast having seen the company emerge from a challenging period to the point of potential first product commercialisation," said the company.
Mr Swedish said, "It has been an honour serving on the Board and witnessing first-hand the tremendous dedication and commitment it takes to bring a cutting-edge product to market. I feel we are on the verge of achieving that goal and I am confident that the Board, working with Silviu and the management team will achieve this milestone and capitalize on the building blocks established to date."
Ms Bell is an experienced leader with a corporate career spanning chair, director and executive roles as a banking and finance lawyer with 30 years of corporate finance expertise focussing on international investment transactions in the United States, Canada, Australia and the United Kingdom, including funds management, mergers, acquisitions, and divestments.
"Mesoblast is a very exciting company. I am honoured to have the opportunity to step up at this important juncture in order to maximise shareholder value as the Company seeks to commercialise its valuable product pipeline," said Ms Bell.
Mesoblast Chief Executive Dr Silviu Itescu said, "I am grateful for Joe's leadership as Chair these past years. I welcome Jane who brings to the Board deep finance, commercial and healthcare skills and look forward to working together to bring our important products to patients."
