IDH.L Share News (IDH)

(ShareCast News) - Immunodiagnostic Systems Holdings (IDS), an AIM listed specialist producer of manual and automated diagnostic testing kits and instruments for the clinical market, has announced that its chief executive Patricio Lacalle will step down for personal reasons from 31 March 2017. During the two years of his tenure he has initiated numerous initiatives to halt the decrease in revenues the company has been experiencing. Him and his team have also established and improved core processes in many functions and reduced the cost base.Based on the positive interim results for the full-year 2017, the board is confident that he has laid the basis for a sustainable recovery of the company.Regis Duval will assume his position no later than 15 March 2017. Previously Duval was senior vice president of Commercial Operations EMEA at Bio-Rad Laboratories.Dr Burkhard Wittek, Non-Executive Chairman of Immunodiagnostic Systems, said: "IDS would like to thank Patricio for his significant contribution which has led to numerous improvements across the company. The development function has also seen a major overhaul and improvement in process efficiency as reflected in a faster rate of product launches. At the same time the cost base has been adjusted to the lower sales volume."The share price fell 2.08% to 235p at the close on Thursday.