genedrive (AIM:GDR) announced it has appointed David Nugent as a Non‑Executive Director with immediate effect, and Chairman Dr Ian Gilham anticipates stepping down as chairman and director by the end of June.
Also, Non‑Executive Director Chris Yates intends to step down over the coming weeks but will assist with the board recruitment.
Nugent, aged 57, has been a shareholder for several years and was a cornerstone investor in the equity financing announced on 13 February, he holds 401.5m shares (over 25% of the issued share capital), and he has volunteered not to take a fee as a Non‑Executive Director until the company is EBITDA positive.
"genedrive is in its strongest position for many years, with two point‑of‑care pharmacogenetic tests now on the market which offer highly promising commercial opportunities," said David Nugent.
The compan has begun the process to recruit an independent Non‑Executive Chairman and two further independent Non‑Executive Directors and said it will make further announcements in due course.
