Peter George has become chairman designate with immediate effect at Ergomed Plc (LON:ERGO) after Rolf Stahel notified the board he would retire at the expiry of his three year term on March 31 next year.
Stahel has been chairman since April 2014, while George has been a non-executive director since July of that year.
Stahel said: "I have enjoyed my time pre and post IPO at Ergomed.
"I congratulate Peter George on his well merited appointment as chairman designate. Peter will be taking over this new responsibility for a company that continues to show strong financial performance and I am looking forward to the future of Ergomed with confidence."
AIM-listed Ergomed is a pharmaceutical hybrid, a pharma services firm that also takes a stake in drugs during the development process.
That means as well as a profitable services business, it also has exposure to a number of new treatments making their way through clinical trials.