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WideCells reshuffles boardroom as part of its growth plans

Chairman Peter Presland will take on a more active role to free up more time for CEO João Andrade to focus on sales and business development
boardroom
CFO David Bridgland will leave the company at the end of 2018

Stem cell treatment insurance provider WideCells Group PLC (LON:WDC) is restructuring its board as part of its plans to minimise costs, refocus its strategy and target revenue growth.

Chief financial officer David Bridgland has stepped down from the board but will serve out his notice period until the end of the year. A non-board financial controller will be recruited in his place.

READ: WideCells secures £2.7mln financing deal as it announces turnaround strategy

Professor Peter Hollands has also stepped down from his board position but will remain as a director of WideCells’ Storage and Research division, as well as the group's chief scientific officer.

Company chairman Peter Presland will take on additional duties until the group has stabilised, overseeing corporate matters, financial management and relationships with investors and advisors.

That will free up chief executive João Andrade to focus more on sales and business development.

“I'd like to thank David for his work with the group and I wish him all the best in his future endeavours,” said Presland.

“Professor Hollands will continue to be an invaluable asset to us as the group's chief scientific officer, and I'd like to extend my special gratitude to him for his work on the board.”

He added: “Moving forward, I'll be taking a more active role in the financial management of the group and additional corporate responsibilities to free up time for our CEO, João Andrade, to focus on what he is really good at - sales and business growth.”

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