23rd Nov 2006 07:02
Medical Solutions PLC23 November 2006 DIRECTORATE CHANGE Medical Solutions plc (the "Company" or "Medical Solutions") Resignation of Dr Neil Johnston as Chief Executive Officer Appointment of Mr Laurie Turnbull as Executive Chairman Medical Solutions, the provider of pathology and cytology services and productsto the healthcare and pharmaceuticals sectors, today announces that NeilJohnston has decided to resign his position as the Company's Chief ExecutiveOfficer and a member of the Company's Board of Directors. Dr Johnston will betaking up an executive position within a global pharmaceutical company,headquartered in Europe. Dr Johnston has agreed to remain as Chief ExecutiveOfficer of the Company until 31 January 2007. The Board wishes to thank DrJohnston for his immense contribution to the Company and wishes him well in hisnew role. Medical Solutions also announces today that Sir Gareth Roberts, Chairman of theBoard, is stepping down from this position, to assume the role of a non-executive director. Mr Laurie Turnbull has agreed to join the Board ofDirectors as Executive Chairman on an interim basis. Mr Turnbull, aged 56 years, has extensive experience in a senior capacity inboth public and private companies. For over 15 years, he was chief executiveofficer of Texas Group plc, the venture capital company and was active in numerous acquisitions and initial public offerings. Mr Turnbull is currentlynon-executive chairman of CBG Group plc, the Aim quoted insurance broker andfinancial services company, non-executive director of Formation Group plc, the Aim-quoted wealth management and professional services company and chiefexecutive of Penmc plc an Aim-quoted "shell" company. Sir Gareth Roberts stated: "We appreciate Neil's invaluable contribution to our Company and thank him forhis significant leadership in implementing the Company's growth and operationalstrategies. We have made great strides this year within our business and haverecently concluded the sale of Medical Solutions FZ LLC. We have a clearstrategy as laid out to shareholders in our recent announcement and we areconfident that we are well positioned for continued growth and shareholder valuecreation. We are delighted to welcome Laurie to the Board and believe we arefortunate to have someone of Laurie's calibre and experience, who can assume therole of interim Executive Chairman while the Company recruits a new ChiefExecutive." Dr Sue Foden, Senior Independent Non-Executive Director, added: "We would also like to thank Sir Gareth for his wisdom and guidance during histenure as Chairman of the Board and look forward to his continued input as anon-executive director." Further information required to be disclosed: 1. Mr Turnbull holds 350,000 Ordinary Shares in the Company; and2. Dennis Castings Ltd entered into administrative receivership in January 1989while Mr Turnbull was a director.No other information is required to be disclosed pursuant to paragraph 9.6.13 ofthe Listing Rules in respect of the appointment of Mr Turnbull to the Board ofDirectors. -ends-Enquiries: Medical Solutions plcDr Sue Foden, Senior Independent Non-Executive Director 07799 530272Dr Nick Ash, Chief Financial Officer 0115 973 9010 Bell Pottinger Corporate & FinancialGeoff Callow/Chris Hamilton 020 7861 3232 Nomura Code Securities LimitedRichard Potts 020 7776 1200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SBS.L