(Alliance News) - Diurnal Group PLC on Thursday said Non-Executive Director Sam William will assume the role of interim chair, effective from June 30.
Diurnal's current Non-Executive Chair Peter Allen will step down at the end of June, after a five-year stint.
Williams is the board representative of IP Group PLC, which holds a significant stake in Diurnal. He has over 20 years of experience in the biotechnology industry, both as a top-ranked equity analyst in the city and as an investor and chief executive, the pharmaceutical company said.
He has been on the board of Diurnal since 2015 and held the role of interim chairman prior to the appointment of Allen. He will temporarily replace Allen until a permanent successor is found.
"I would like to thank Peter for his considerable contribution to the company during the past five years. His extensive experience and wise counsel have been invaluable. He leaves Diurnal well-positioned to achieve its vision of becoming a world-leading specialty endocrinology company. We wish him the very best for the future," said Chief Executive Martin Whitaker.
Diurnal shares closed 2.8% lower at 32.45 pence each on Thursday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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