Valereum PLC (AQSE:VLRM) has announced a board shake-up with chief executive Nick Cowan stepping down after the company opted not to go ahead with the DMC deal.
Alongside Cowan’s departure, the company unveiled a slate of proposed board additions. These include two planned non-executive director appointments: Matthew Ripperger and Grant Gischen.
Ripperger, based in New York, brings over two decades of investment management experience with a strong track record in healthcare. His previous roles span senior positions at Harbert Stoneview, TimesSquare Capital, and Glenview Capital Management, where he served on the board of US hospital chain Tenet Healthcare.
Gischen is a venture capitalist with a focus on deep tech and clean energy. He co-founded Energy Revolution Ventures, a UK-based fund targeting early-stage technologies such as hydrogen, energy storage, and carbon capture. His career began at consultancy Bain & Company.
John Evans will also join Valereum as a US-based board advisor, working with Ripperger to support the company’s strategy in the American market and its planned listing ambitions.
Among other changes, Gary Cottle will move from a non-executive to an executive role. Karl Moss and Peter Sekhon will leave the board, though both will remain with the company in financial and business development roles, respectively.
Chairman James Formolli said: "Valereum is now heading for the global stage, and the proposed Board changes emphasise the expertise and experience required to take the next step.
"On a personal note, I would like to firstly thank Nick for his hard work and efforts as CEO and wish him all the best for the future. Secondly, to Pete for his continued support, enthusiasm, and devotion to Valereum.
"And finally, Karl. His commitment to the cause, work ethic and attitude are exemplary, and I cannot thank him enough for his ongoing dedication to "delivering" the bigger picture.
"These are exciting times for Valereum and growth sometimes results in difficult decisions, both personally and professionally. The changes made reflect that, and I believe we are now better placed to take advantage of an exploding market."