SkinBioTherapeutics plc (AIM: SBTX), the life science business focused on skin health, has appointed Rachel Parsonage as Interim CEO for a period of six months, during which time she will also serve as a member of the Board. Rachel will commence her duties with immediate effect, and she will be introduced to the rest of the team this morning. Her appointment to the Board is subject to the completion of normal regulatory due diligence being carried out by the Company's Nominated Adviser.
Rachel is a seasoned senior executive with over 25 years’ experience leading consumer beauty and wellness businesses through growth and change. She has held CEO and transformational-level leadership roles across owned and licensed brand portfolios in both domestic and international markets. She has been involved in financial and business model management, operations and inventory management, and the strengthening of corporate governance. Rachel has also worked closely with boards, founders, lenders and partners to navigate periods of transition.
Currently, Rachel runs her own advisory consultancy, Alera Advisory. Before then, she was at KMI Brands for over 16 years, rising from Managing Director to Chief Executive, where she scaled and stabilised a portfolio of owned and licensed beauty brands. Before then, Rachel was Managing Director at This Works, a premium British aromatherapy and skincare brand with a UK and US focus, and previously, she was owner of Vita Management, an independent consultancy. Prior to this, she was General Manager at Pacific Direct, a global hotel manufacturing amenity company providing brand development for hotels, working with luxury brands Elemis, Penhaligons and White Company. Rachel is an alumnus of the Business Growth Programme (BGP), part of Cranfield’s Executive Development Programme.
Martin Hunt, Executive Chairman of SkinBioTherapeutics, said:
“In the past few weeks, our aim has been to take decisive action to stabilise the business, including the search for a new interim CEO, while we undertake a thorough investigation to resolve the current issues. We are therefore delighted to welcome Rachel to the team as interim CEO. Her background matches our immediate requirements exactly; she has over 32 years in total in the consumer and wellness sector, with a clear track record of stabilising brands and companies, managing stakeholders including partners, and driving sales and IP commercialisation.
“This appointment is one part of our plan to resolve the current issues as quickly as possible. With respect to the forensic investigation, we are balancing the thoroughness of an investigation within a clear cost-benefit framework, to remove any uncertainty around the business’ future. We want SkinBioTherapeutics to get back on track, move forward and focus on accelerating its growth again.”