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Yourgene Health PLC on Wednesday said that John Brown, who was expected to be promoted to chair in September, will take up the role immediately.
Back in April, the Manchester-based molecular diagnostics firm said that Adam Reynolds will step down as chair at the next annual general meeting in September, having served in the role for five years. It also named Senior Independent Director Brown as his replacement.
Brown has been non-executive director and senior independent director of the company since he joined the board in July 2019. Yourgene said that this ‘has given him a deep knowledge of the business and accelerated the transition process.’
Brown is currently also chair of Calcivis Ltd and a non-executive director of Skylark Therapeutics Ltd.
Reynolds will remain with Yourgene as a non-executive director, the company added.
Reynolds said: ‘John has over 20 years' capital markets experience in the healthcare and life sciences sector and has significant relevant board experience. I look forward to working with John and the rest of the board as we strive to leverage these strong foundations and deliver the shareholder returns we all desire.’
Also on Wednesday, Yourgene reported record revenue of £37.6 million for financial year ended March 31, more than double the £18.2 million reported the year before. Pretax loss also slimmed to £3.2 million from £12.0 million.
Shares in Yourgene were down 3.9% to 7.45 pence each in London on Wednesday around midday.
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