SkinBioTherapeutics names new interim CFO after 2025 results probe

SkinBioTherapeutics PLC on Monday named its new interim finance chief, whilst it continues to recruit new board members.

Newcastle Upon Tyne, England-based life sciences company said Anita Slater will assume the role of chief financial officer for an initial six-month term, in a non-board capacity, beginning immediately.

Chartered accountant Slater has three decades of business experience, starting at BG Group, before it merged with Shell PLC. She has also worked at AIM-listed AMTE Power PLC.

Slater’s predecessor Emily Bertram stepped down at the end of June, at which point SkinBioTherapeutics said it had appointed a chartered accountant on an interim basis, noting at the time that the person had “a demonstrable track record in strengthening financial controls, corporate governance and reporting standards.”

In June, the company restated its 2025 results, disclosing that losses were larger than initially reported, after a probe found that its former chief executive had “fabricated” figures.

According to a FRP Advisory report, £770,000 in accrued royalty revenue was inappropriately recognised for the year ended in June 2025, necessitating a downward adjustment to the previously reported revenue to £3.9 million from £4.6 million.

Supporting documentation for the accrued royalty revenue figure was “fabricated”, FRP said, by ex-CEO Stuart Ashman, who quit the business in February, having been suspended pending a conduct investigation.

The adjustment for the full-year 2025 accrued royalty revenue directly impacts operating profit. In addition, other matters were identified, including the award, payment and timing of accounting for bonuses and associated consultancy payments, in financial 2024 and 2025.

Adjusted earnings before interest, tax, depreciation and amortisation loss stretched to £1.4 million from £410,000, and adjusted operating loss widened to £2.1 million from £1.1 million.

The company added on Monday that it is in talks with non-executive director candidates. It plans to publish a business update by mid-September, detailing further board updates.

Chair Alyson Levett commented: “On behalf of the board, I am delighted to welcome Anita to SkinBio as interim CFO. She brings extensive experience in financial and commercial leadership, together with strong expertise in governance, risk and financial controls. We have made significant progress in strengthening the group’s governance and financial framework, and Anita’s experience will be invaluable as we build on that work and the ongoing focus on the commercial development of the business.”

SkinBioTherapeutics shares rose 1.6% to 9.65 pence each on Monday afternoon in London, but have fallen 33% over the past year.

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