British Biotech (LSE:BBG; BBIOY) found a seasoned product development executive to replace outgoing CEO Keith McCullagh, but London investors took a wait-and-see attitude as BBG edged down 1.5p to 36p on the week.

The new CEO, Canadian Elliot Goldstein, will be challenged to restore the company's credibility, which has been tarnished by accusations that it misled investors about clinical development of its compounds.