(Alliance News) - Allied Minds PLC on Tuesday announced the promotion of Senior Independent Director Harry Rein into the role of chair with immediate effect.
Shares in Allied Minds were up 3.1% at 33.30 pence in London in morning trading.
Rein succeeds the outgoing chair of the intellectual property commercialisation company's board, Jeff Rohr, who has stepped down.
Along with Rein's promotion, Allied Minds also announced the appointment to the board of Bruce Failing, currently general partner of venture capital firm Alerion Partners. Failing's previous roles include as chief executive of Productivity Solutions, Actmedia, and Electronic Retailing Systems.
Failing also was previously executive chair at ScentAir Technologies as well as Lamaze Publishing & the Newborn Channel and will take up the role of senior independent director at Allied Minds.
Rein said: "On behalf of the board, I extend our deepest thanks and appreciation to Jeff for his many dedicated years of service on the board and the leadership and support he has provided over the past six years.
"I welcome Bruce to the board. His operational and management experience and expertise is invaluable and positions him perfectly to help us.
"I look forward to becoming chairman and continuing to work closely with my fellow directors as we execute on our strategy of delivering shareholder value by focusing on our existing portfolio."
By Anna Farley; annafarley@alliancenews.com
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