Life sciences group OptiBiotix Health plc (LON:OPTI) is recruiting a food industry heavy hitter to the role of chairman.
Former Express Dairies and Arla Foods chief executive Neil Davidson will take over from Adam Reynolds next month.
Currently a non-executive with the supermarket giant Wm Morrison (LON:MRW), he has also been an independent director at the housebuilder Persimmon (LON:PSN).
It means the new boardroom hire brings with him significant FTSE 100 experience – although he also chaired AIM-quoted Produce Investments.
Personal interest in innovation
OptiBiotix said Davidson “has a personal interest in the development and commercialisation of technology to improve health”.
That would appear to make him the ideal fit with the Opti, a pioneer of the human microbiome found in the gut.
It is using its knowledge and discoveries to develop healthy sweeteners and natural alternatives to current drugs for cholesterol and diabetes.
Chief executive Stephen O’Hara said of the chairman-elect: “His network of contacts and wealth of experience on the board of some of the UK's largest public companies will help guide OptiBiotix as it builds a microbiome business in what is forecast to be one of the world's fastest growth areas.
“The board anticipates a future where microbiome products will be at the forefront of preventing, managing and treating many of today's chronic lifestyle disease and we hope under Neil's guidance OptiBiotix will continue to be one of the world's leaders in this exciting and emerging field.”
The shares rose 3% in morning trade to 69.37p, valuing the business at £52mln.
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