Creo Medical Group PLC (AIM:CREO) has announced that a new chair will be sought to replace Charles Spicer as the company grows internationally.
AIM-listed Creo said it will look to appoint an “experienced international medtech executive,” suitable to succeed Spicer before the company’s annual general meeting next year.
The plan will “ensure that Creo's executive and non-executive directors include an appropriate mix of skills and experience to continue to build a world-class medtech company,” Spicer said on Tuesday.
Spicer joined the company in 2016 as it floated on the London Stock Exchange, with Creo now looking to bring in “senior commercial execution experience,” according to chief executive Craig Gulliford.
"Charles has helped me to lead the Company […] from being a privately-held medtech startup with big ambition, into what is now an internationally commercialised public company,” Gulliford added.
Speaking ahead of Tuesday’s annual general meeting, the pair hinted at further pipeline developments for Creo’s minimally invasive surgical products.
Spicer also noted that the company has reduced operating costs and funding gaps in recent months, after achieving several landmarks such as the first use of its Speedboat Inject device for an upper gastrointestinal procedure in Europe this week.