SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a - 16 OR 15d - 16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2006
SkyePharma PLC
SkyePharma PLC, 105 Piccadilly, London W1J 7NJ England
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _______
For Immediate Release 23 January 2006
SkyePharma PLC
Resignation of SkyePharma's Chairman
LONDON, UK, 23 January 2006 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announces
the resignation of Ian Gowrie-Smith as Chairman of the Company. A new Chairman
will be appointed at the Company's next Board meeting, on 1 February. It is also
his intention not to stand for re-election as a Director of the Company at
SkyePharma's 2006 Annual General Meeting.
Mr Gowrie-Smith, who founded SkyePharma in 1996, stepped down from the role of
Executive Chairman to a non-executive Chairmanship in 2004. It has been Mr
Gowrie-Smith's intention since early 2005 to continue this process by resigning
at an appropriate time, both as Chairman and as a Director. A search for a new
Chairman was therefore initiated in 2005, but was put on hold while the
Company's Strategic Review and search for a new Chief Executive was ongoing. The
search resulted in the identification of a number of excellent candidates for
both positions. The Board would like to make clear that it will strenuously
oppose any attempts to force a candidate onto the Board.
The Strategic Review of the Company continues and further announcements will be
made in due course.
Ian Gowrie-Smith, SkyePharma's Chairman, said: "I have decided to resign in the
interest of all shareholders. This expedites a process that was already ongoing
and hopefully will bring to an end the recent acrimonious period and spare
shareholders and the Company the expense and distraction of an Extraordinary
General Meeting. It is unfortunate that the short-term interests of a small
group of shareholders can cause such disruption to the development of a company
where real achievements are often measured in decades. Building a pharmaceutical
company is a long-term business and it is not surprising or unreasonable for
investor patience to be tested from time to time. However, in ten years
SkyePharma has come a very long way and now faces an exciting future with
important products in late-stage development. SkyePharma is already a world
leader in drug delivery and has the potential to become a major force in
pharmaceuticals. I am very proud of what we have achieved and thank shareholders
for their support and employees worldwide for their dedication.
"I have devoted over ten years to establishing and building SkyePharma, and
perhaps that is long enough for anyone in such a demanding role. However, since
I moved to become non-executive Chairman I have widened my business interests
and I look forward to the new challenges they will bring."
For further information please contact:
SkyePharma PLC
Michael Ashton, Chief Executive +44 207 491 1777
Peter Laing, Director of Corporate Communications +44 207 491 5124
Sandra Haughton, US Investor Relations +1 212 753 5780
Buchanan Communications +44 207 466 5000
Tim Anderson / Mark Court
About SkyePharma
SkyePharma PLC develops pharmaceutical products benefiting from world-leading
drug delivery technologies that provide easier-to-use and more effective drug
formulations. There are now eleven approved products incorporating SkyePharma's
technologies in the areas of oral, injectable, inhaled and topical delivery,
supported by advanced solubilisation capabilities. For more information, visit
www.skyepharma.com.
Certain statements in this news release are forward-looking statements and
are made in reliance on the safe harbour provisions of the U.S. Private
Securities Litigation Act of 1995. Although SkyePharma believes that the
expectations reflected in these forward-looking statements are reasonable, it
can give no assurance that these expectations will materialize. Because the
expectations are subject to risks and uncertainties, actual results may vary
significantly from those expressed or implied by the forward-looking statements
based upon a number of factors, which are described in SkyePharma's 20-F and
other documents on file with the SEC. Factors that could cause differences
between actual results and those implied by the forward-looking statements
contained in this news release include, without limitation, risks related to the
development of new products, risks related to obtaining and maintaining
regulatory approval for existing, new or expanded indications of existing and
new products, risks related to SkyePharma's ability to manufacture products on a
large scale or at all, risks related to SkyePharma's and its marketing partners'
ability to market products on a large scale to maintain or expand market share
in the face of changes in customer requirements, competition and technological
change, risks related to regulatory compliance, the risk of product liability
claims, risks related to the ownership and use of intellectual property, and
risks related to SkyePharma's ability to manage growth. SkyePharma undertakes no
obligation to revise or update any such forward-looking statement to reflect
events or circumstances after the date of this release.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SkyePharma PLC
By: /s/ Douglas Parkhill
Name: Douglas Parkhill
Title:
Company Secretary
Date: January 23, 2006