Former Exec To Sue Chiroscience
Nowell Stebbing, who is currently steering the flotation of UK pharmaceutical company Cambrio (see page 4), is taking legal action against his former company Chiroscience.
He is alleging that he was wrongfully dismissed, according to the Financial Times. Mr Stebbing is also claiming damages for the wrongful removal of share options worth L3.5-L5.5 million ($5.4-$8.5 million).
Mr Stebbing suffered ill health after he joined Chiroscience from Zeneca in 1993, and agreed to become deputy chairman, handing over the post of chief executive to John Padfield, who joined the company from Glaxo in 1994, according to the FT report.
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