ReNeuron Group PLC (LON:RENE) has confirmed its plan to reduce the number of non-executive directors on its board from six to four and, in recognition of its significant shareholding and ongoing support for the company, appoint a non-executive director from Obotritia Capital KGaA to its board.
The global leader in the development of cell-based therapeutics said that John Berriman and Simon Cartmell, having served for nine years and thereby having become non-independent under the QCA code of corporate governance, have expressed their intention not to seek re-election at the group's upcoming annual general meeting on September 10, 2020, and will, together with Dr Claudia D'Augusta, retire with effect from the close of that meeting.
Dr Tim Corn, an existing non-executive director of the company, will become chairman of the board and Mark Evans, the chairman of Obotritia, will be appointed as a non-independent non-executive director of the company at that meeting.
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Evans, a chemistry graduate from the University of Bristol, began his career as a graduate trainee at Morgan Grenfell, a British merchant bank and then worked in emerging markets at ING Bank and Montpelier Asset Management before joining THS Partners in 1998 to manage global equity portfolios, following a number of areas including property, fixed interest and healthcare.
After THS was sold to GAM in 2016, Evans and two colleagues started a new firm, Partners Investment Company LLP, to focus on small and midcap European equities. He is also a partner of Albemarle Life Sciences LLP, a small specialist healthcare investment partnership.
In addition to these changes, ReNeuron said it will enter into a relationship agreement with Obotritia and Partners Investment Capital to ensure that the company is capable of carrying on its business independently at all times.
In a statement, Olav Hellebø, ReNeuron chief executive officer commented: "We are delighted to welcome Mark Evans to the Board and, on behalf of the Board and management of the Company, I would like to thank John Berriman, Simon Cartmell and Claudia D'Augusta for their many years' combined service on the Board. We wish them well.
"The reconfigured Board of ReNeuron has the expertise and experience necessary to support the Company's new emphasis on retinal diseases and commercial partnerships."