LONDON (Alliance News) - Consort Medical PLC on Thursday said Ian Nicholson has stepped down from its remuneration committee in order to satisfy shareholder concerns.
At its annual general meeting in September, 37% of votes were cast against the re-election of Nicholson as a director. Consort noted that one key issue of concern among shareholders was Nicolson's re-appointment to the company's remuneration committee in 2018.
"It was felt that Nicholson could not be considered an independent non-executive director due to his relationship as a consultant to the group between March to April 2017, when Nicholson provided three days of consultancy services in respect of a potential acquisition opportunity," Consort said.
In response to these concerns, Nicholson has departed from the committee with immediate effect.
Shares in Consort were up 2.6% at 977.00 pence on Thursday.
