The first phase of board renewal for Race Oncology Ltd (ASX:RAC, OTC:RAONF) is complete with the company thanking non-executive chair Mary Harney and non-executive director and former CEO/MD Phil Lynch for four years of service to the company.
RAC began the renewal process in 2023 and its refreshed board is now ready to take the company through its next phase of development.
Dr Pete Smith steps into the executive chair position while Dr Daniel Tillett will move from CEO to CEO and managing director. Dr Serge Scrofani has been appointed as an independent non-executive director.
“I thank Mary and Phil for their hard work and dedication to Race over the past four years," Tillett said. "While I am sad to see Mary and Phil leave Race and will miss their wise council, I understand their desire to focus on new opportunities.
"I warmly welcome Serge to Race as we focus on the significant commercial opportunity ahead of us.”
Dr Scrofani to play pivotal role
Dr Scrofani brings to Race more than 28 years of experience in the healthcare sector, having held global positions in research, strategy and corporate development.
He spent 13 years as vice president of strategy and corporate development at CSL, where he was instrumental in driving numerous strategic initiatives. Prior to this, he led business development for CSL Behring in the United States, where he played a key role in executing several major mergers and acquisitions.
“I am excited to join Race’s board and endorse the company’s innovative approach to developing cardioprotective cancer therapies," Dr Scrofani said.
"I have been impressed by the team's dedication and commitment to realising the clinical and commercial potential of bisantrene and I look forward to supporting them in this important work.”
Currently, Dr Scrofani is the principal of Poplar Advisory, a boutique strategic advisory firm specialising in the healthcare sector. He also serves on the boards of the Burnet Institute and The Centre for Eye Research, and is a founding director of the private equity firm FinCap Pty Ltd.
Dr Scrofani earned his PhD in Structural Biology from La Trobe University and pursued postdoctoral research at The University of Melbourne, followed by a Fulbright Postdoctoral Fellowship at The Scripps Research Institute in La Jolla, California. He also holds an MBA from Melbourne Business School.