Shire's CFO resigns to join plant technology start-up

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Shire's CFO resigns to join plant technology start-up

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LONDON (Reuters) – Pharmaceutical company Shire <SHP.L> said its chief financial officer Jeff Poulton will stand down at the end of the year to join Indigo Ag, a Boston-based start-up that seeks to improve agricultural productivity. Poulton, who joined Shire in 2003, has been CFO since January 2015, a period that saw Shire make its largest acquisition with the $32 billion purchase of Baxalta last year. He said on Monday that it was a difficult decision to leave the rare disease drugs specialist, but he wanted to join a smaller organisation where he could play a role in building a new company.  “As Shire finalises the integration of Baxalta and focuses on paying down debt, this also presents a perfect time for me to begin this transition,” he said. Shire’s Chief Executive Flemming Ornskov said Poulton would lead the finance team through the third-quarter reporting period and would play an active role in the search for his successor

(Reporting by Paul Sandle)
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