Directorate Change

 LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Group")

Appointment of Chief Executive Officer

InnovaDerma (LSE: IDP), a leading developer of beauty, personal care and life science products, is pleased to announce that Blake Hughes has been appointed Chief Executive Officer ("CEO") of the Group with immediate effect. He will be based in the UK.

Blake has spent his career in the beauty and personal care sectors and brings with him extensive marketing and digital analytics experience. Most recently, he held the roles of CEO and Chief Marketing Officer of Philip Kingsley, the award-winning premium hair care range. During his tenure at Philip Kingsley, he defined its brand strategy, transformed its eCommerce platform, created a structured product innovation pipeline and step changed international distribution.

Prior to joining Philip Kingsley, Blake was Managing Director, Europe and Africa, of Murad, the prestigious skin care brand. He successfully transformed the business model of this former UK distribution only joint venture into a profitable regional headquarter that managed the distribution of Murad into Europe, Middle East and Africa.

Blake has also worked in a variety of brand and marketing roles for blue chip companies including Procter & Gamble, Elizabeth Arden and Marks & Spencer. He holds a Masters in Chemistry from Oxford University.

Joe Bayer will step down as Interim CEO with immediate effect. He will remain as Executive Chairman to support Blake and ensure a smooth handover of the CEO function. Joe intends to step back to Non-executive Chairman after the transition has been completed.

Executive Chairman, Joe Bayer, said:

"After an extensive search process, I am very pleased to announce that Blake Hughes has agreed to assume the role of CEO at InnovaDerma. His impressive leadership record and proven ability to generate topline revenue growth whilst improving margins at both blue chip companies and smaller businesses, together with his sector knowledge of the personal care and beauty business, makes him the ideal candidate to lead InnovaDerma. I look forward to working with him as we continue to expand our digital platform and retail network globally."

Blake Hughes said:

"I am really excited to be joining InnovaDerma as its new CEO, it's a business with an impressive stable of strong, digitally focused brands which I have long admired. 

"I passionately believe in the company's potential to deliver strong financial growth by continuing to build a sustainable digital competitive advantage, drive brand innovation and create exceptional brand experiences for more consumers around the world. InnovaDerma has significant expansion potential and I am proud to join them at this exciting stage of their development."

There is no further information to be disclosed under the requirements of Listing Rule 9.6.13R in relation to Blake Hughes' appointment.

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