Incanthera PLC (AQSE:INC) said it is targeting a significant reduction in operating costs, including cutting cash compensation by at least 50%, after completing the acquisition of skincare brand énielle’s assets.
The dermatology and oncology technology company said preserving cash for future investment and meeting creditor obligations would be among the newly constituted board’s immediate priorities.
Directors will be compensated mainly, and in most cases exclusively, through share options until profitability and shareholder returns are achieved.
Incanthera will integrate énielle with its existing Skin+CELL platform and promote the products as a single skincare “protect + repair” routine through new multi-channel sales programmes.
Laura Brogden has joined the board as executive chief financial officer and becomes company secretary, while former Swiss stock exchange chief executive Werner Bürki has been appointed a non-executive director. Caroline Murray has become non-executive chair.
Chief executive Stuart Robertson said the changes marked the first stage of reorganising Incanthera into “a far leaner and more focused sales and stakeholder-centric global business”.
