Amrad confirms Nash in CEO role

Andrew Nash has been named CEO of Amrad Corporation (ASX:AML), three months after he stepped into the role following the resignation of Peter Smith in May.

Nash joined Amrad in 1996 as senior scientist in the area of cytokine research, and has progressed successfully through various positions, culminating in his appointment as chief scientific officer in 2004.

"I know the programs and the science behind the programs," Nash told Australian Biotechnology News. "Moving into the role of CEO is not as difficult as it could have been. I had been working closely with Pete before his departure and all the things I had to pick up I had already been dealing with anyway."

Nash believes it is an exciting time for Amrad. "I have been here a while and there is a lot of potential in the projects. We are looking at moving them into clinical trials as quickly as possible. The biggest challenge is to get the market and investors to understand the value of the projects."

In a statement, Amrad chairman Ian Davis said Nash had "an intimate understanding of the Amrad business, its competitive advantages and the inherent value of its current portfolio."

As CEO, Nash's annual base salary will be AUD$360,000, along with a performance-related bonus and options.