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Physiomics PLC on Wednesday announced that shareholders at its general meeting agreed to replace the board. Shares in Physiomics were 3.0% higher at 0.52 pence in London on Wednesday afternoon. The Oxford, England-based mathematical modelling company, which focuses on medical drug development, said that Michael Whitlow, who requisitioned the GM, has consequently been appointed as an executive director. Nicholas Tulloch replaced Jim Millen as the company’s non-executive chair, while Ian Bagnall was appointed to the board as a non-executive director. Chief Executive Officer Peter Sargent was removed from the board, effective immediately, along with Non-Executive Directors Shalabh Kumar and Tim Corn. The resolution to remove Millen as a director received 77.41% of votes in favour. Physiomics reiterated that Sargent will remain as CEO, albeit in a non-board capacity, until May 29. ‘Furthermore, the outgoing directors have expressed their willingness to facilitate an orderly transition to the incoming directors,’ the company added. The resolutions to appoint Tulloch, Whitlow and Bagnall were passed with 77.94%, 77.91% and 77.80% of the votes in favour, respectively. Tulloch is currently a non-executive director at Chill Brands Group PLC, where he had previously served as financial director and later CEO when the company was known as Zoetic International PLC. Physiomics’ board had unanimously recommended that shareholders vote against the GM resolutions. It warned that replacing the now-former directors with Whitlow and his associates would be ‘materially less likely to provide the balanced challenge and objective scrutiny, as well as the degree of independence appropriate in a public company.’ Among its other objections, the board said voting against the resolutions would ‘ensure the company is run by a board with a clear plan and the requisite life sciences experience and expertise to guide a highly specialist business at a critical stage of its development.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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