LONDON (Alliance News) - Surgical Innovations Group PLC Monday said its has made Chris Rea interim Managing Director with immediate effect.
In a statement, the company said Mike Thornton will continue as finance director and will also act as CEO of Surgical Innovations Ltd, while Colin Glass and Ray Simkins step down as non-executive directors of Surgical Innovations with immediate effect, in line with the company's previous decision to shrink its board given its current size.
Professor Mike McMahon remains a non-executive director of Surgical Innovations and its clinical advisor, it added.
At the end of September, Surgical Innovations had said former Chief executive Graham Bowland was leaving with immediate effect, with Thornton appointed interim CEO.
At that time, the company's non-executive directors also unanimously agreed to waive their entitlements to receive any fees or other remuneration in respect of any services they provide to the company, as Surgical Innovations focuses on cost savings and cash generation.
Surgical Innovations shares were down 4.6% at 2.03 pence Monday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Surgical Innovations (SUN)