Drayson splits top roles at Powderject

Powderject Pharmaceuticals, the controversial vaccines company headed by the Labour Party donor Paul Drayson, yesterday moved to stem criticism of corporate governance by splitting the roles of chairman and chief executive.

Mr Drayson, who founded the company in 1993, will stay as chief executive but report to a new chairman, while two new non-executive directors were also appointed yesterday.

Gerald Möller, currently deputy chairman, will move into the chairman's seat, satisfying a long-standing demand from shareholders that the company should comply with corporate governance codes.

Mr Möller is a former chief executive of the German drugmaker Böhringer Mannheim.

Mr Drayson rejected suggestions that the new chairman, who has served as his deputy for two years, would not be the independent figure that investors had envisaged.

"He is a forceful and experienced pharmaceuticals guy, who knows his own mind and speaks it. We have a good relationship," Mr Drayson said.

The new non-executives are Seth Berkley, president of the International Aids Vaccine Initiative, and Michel Greco, formerly number two at Aventis Pasteur, the vaccines division of the French giant Aventis.