Mesoblast appoints executive chairman

Adult stem cell company Mesoblast (ASX:MSB) has appointed Michael Spooner as full-time executive chairman until June 30 next year.

The company also announced the elevation of Donal O'Dwyer to non-executive deputy chairman. Both appointments are effective immediately.

Spooner said his role was to "drive clarity" -- interpret the company's scientific results and drive partnerships.

"The company will continue to mature, and between now and June 2006 we are committed to making the transition and the right decision in appointing a CEO," he said. "We are in the process of making sure that Mesoblast is a well balanced organisation and in the position to continue to meet milestones."

Mesoblast founder Prof Silviu Itescu will continue in his current role as director and chief scientific adviser.