Board and Management Changes

RNS Number : 8192N

Ergomed plc

23 January 2019

 

PRESS RELEASE

Board and Management Changes

London, UK - 23 January 2019: Ergomed plc (LSE: ERGO) ("Ergomed" or the "Company"), a company focused on providing specialised services to the pharmaceutical industry, announces Board and management changes.

For health reasons, Stephen Stamp has asked to be released from his contract as Chief Executive Officer and director of the Company. He will be available to assist in the transition in a part-time role. A search for a new CEO will be initiated.

To provide executive leadership Dr Miroslav Reljanovic has been elected Executive Chairman of the Board of Directors of the Company. Dr Reljanovic founded Ergomed as a CRO in 1997 and co-founded PrimeVigilance, its pharmacovigilance subsidiary, in 2008. He was Chief Executive Officer and director of the Company until June 2017 when he became Executive Vice Chairman. As Executive Chairman, Dr Reljanovic will assume full executive responsibility for the Company, pending a search for a CEO.

Peter George has stepped down as Chairman but will remain a Non-executive and senior independent director of the Company.

The Company will announce a Trading Update on 31 January 2019 which is expected to indicate 2018 trading to have been in line with market expectations.

Dr Miroslav Reljanovic, Executive Chairman, said: "I would like to thank Stephen for his service to Ergomed thus far and I look forward to working with him in his new capacity. On the back of last years' cost cutting programme and good current trading performance, the Company is in sound financial health and I look forward to delivering our strategy to focus on our services business."

Peter George, Non-executive and Senior Independent Director of Ergomed, said: "I echo Miro's thanks for Stephen's contribution to Ergomed. Miro has the experience needed to take on the executive leadership of the Company and, given my other business interests, it is appropriate for me to step down as Chairman during this time. I remain fully confident in the strategy outlined last year and in Ergomed's potential."

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Enquiries:

Ergomed plc		Tel: [phone]
Dr Miroslav Reljanovic (Executive Chairman) Stuart Jackson (Chief Financial Officer)
Numis Securities Limited		Tel: [phone]
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black (Joint Broker)
Consilium Strategic Communications - for UK enquiries		Tel: [phone]
Chris Gardner / Mary-Jane Elliott Matthew Neal / Olivia Manser	[e-mail]
MC Services - for Continental European enquiries		Tel: [phone]
Anne Hennecke

About Ergomed plc

Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed's fast-growing, profitable services offering encompasses a complete suite of specialist pharmacovigilance solutions, integrated under the PrimeVigilance brand, in addition to a full range of high quality contract research and trial management services (CRO). Leveraging its CRO expertise, Ergomed also has a drug development portfolio of co-development partnerships and wholly-owned programmes.  For further information, visit: http://ergomedplc.com.

 

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