Aegate News

Executive changes at Aegate

Michael Peace appointed as new CEO; Dr Richard Barker, OBE, joins as Senior Advisor.

05 January 2012. Aegate's board of directors announced today Michael Peace has been appointed as the company's new CEO, effective immediately, following the departure of Gary Noon. Furthermore Dr Richard Barker, past Director General of the Association of the British Pharmaceutical Industry, joins the company as Senior Advisor.

Michael Peace joins Aegate from Thomson Reuters, where he built a number of financial information and trading businesses during his assignments in Asia, the US and Europe. He was previously the Head of Asia for the Financial Markets business, the Global Head of the Research and Asset Management Division at Reuters and the CEO of Lipper, the mutual fund company acquired by Reuters in 1999.

Dr Richard Barker OBE, is the Director of the Centre for Accelerating Medical Innovations and an advisor to a number of healthcare companies. He was previously Director General of the Association of the British Pharmaceutical Industry (ABPI) and board member of EFPIA (the European Federation of Pharmaceutical Industries and Associations). His past operating roles also include Chief Executive of Chiron Diagnostics, a global diagnostics company, and General Manager of IBM's Worldwide Healthcare Solutions business. He also led McKinsey's European pharmaceuticals and healthcare practice.

Sir David Cooksey, Chairman of Aegate comments "The board are delighted to be making these senior level appointments, which will serve to strengthen the executive team, at a time when Aegate is poised for growth. Michael's experience of building teams and businesses across multiple geographies and Richard's substantial pharmaceutical industry expertise will be invaluable, now that new European Legislation for falsified medicines has made it clear that patient safety systems such as Aegate's are going to become a legal requirement."

The new legislation will require the pharmaceutical industry to uniquely barcode each box of medicine such that they can be checked by pharmacists at the time of dispensing, using authentication software, to confirm the item is not recalled or falsified. As a result all pharmacies in Europe will need to install point of dispensing authentication software systems such as Aegate's within the next 3-5 years.