Induction Healthcare Group PLC (AIM:INHC) has announced board changes that will see an interim chief financial officer (CFO) appointed as well as a new senior independent director.
The company announced that Guy Mitchell will step down from his position as its CFO and has resigned as a director due to personal reasons with immediate effect, but said he will remain with the business for a short handover period.
The leading digital health platform, driving transformation of healthcare systems worldwide, said he will be replaced by John McIntosh as interim CFO, a non-board position.
It noted that McIntosh is a highly experienced AIM CFO who has worked as a consultant CFO, interim finance director and CFO for public and private entities in the UK, USA, and Europe. After qualifying with Deloitte in 1994, John worked with SONY, DMB&B and the BBC, before focusing towards online, and multi-media businesses.
He was a director and CFO of Bidstack Group PLC for three years until 2021, where he led the business from its early stages, through its successful admission to AIM in September 2018, to become a leading multi-market international business. Prior to this, he was interim FD and board member of Progility PLC for three years. He was also CFO and chief operating officer for DCD Media PLC for five years.
The company's said McIntosh's appointment is an interim role, and the board are actively recruiting to appoint a permanent CFO.
New senior independent director
Induction also announced that Ian Johnson has been appointed to the board as the senior independent director (SID) replacing Leslie-Ann Reed who will be stepping down following completion of her three-year term. Andy Williams is also appointed chair of the Audit Committee, it added.
Induction noted that Johnson brings over 30 years of board experience working with quoted and private companies in the Life Sciences space, having spent a career providing strategic direction and business development expertise. He has a proven track record of overseeing business growth and providing commercial advice through scale-up, organic growth and M&A activity.
Johnson is currently executive chairman of NIOX Group PLC, a business focused on improving asthma diagnosis and management. In addition, Ian is operational adviser at Harwood Private Equity focusing on the Life Sciences sector. He was founder and CEO of Biotrace International PLC before its sale to 3M in December 2006 and has previously been SID of Clinigen PLC. He has also acted as executive chairman for Bioquell PLC, non-executive chairman of Quantum Pharma PLC,Cyprotex PLC, Biofortuna Limited and Celsis Group and non-executive director of Ergomed PLC.
In a statement, Induction CEO, James Balmain, said: "I would like to extend my thanks of behalf of the board to Leslie-Ann for her contribution during a transformation period. We are grateful for Leslie-Ann's support, and she will be missed.
"I wish Guy the very best for the future and would like to welcome John and Ian, who both bring extensive AIM experience to Induction."