Directorate Change

 LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Group")

Directorate Change

InnovaDerma (LSE: IDP), a UK developer of beauty, personal care and life science products, today announces that Joe Bayer, as planned, will step down to Non-executive Chairman with immediate effect and has notified the Board that he will resign as a Director with effect from 31 January 2021.

Joe will remain an employee of the Group until 31 May 2021 to ensure an orderly handover of responsibilities. The Board will appoint a Non-executive Chairman in line with the UK Corporate Governance Code.

The Group recently appointed Blake Hughes as CEO who brings significant experience in the beauty and personal care sectors, while the addition of Mark Ward and the proposed appointment of Simon Pyper adds digital and marketing expertise. The Board has made considerable progress in strengthening its composition, ensuring it has the right skillset and experience to drive future growth, particularly through digital channels.

Joe Bayer, Non-executive Chairman, said:

"It has been a pleasure to serve firstly as an Executive Director, and then Chairman, of InnovaDerma, overseeing its early years as a private start up business through to a publicly listed company with a strong stable of brands and a growing international presence. My thanks go to all our people whom I am immensely proud of and the team culture which has helped support the growth of the business over the past six years. I feel now is the right time for me to step down and I am confident the business is in excellent hands to ensure its continued success for the benefit of all stakeholders."

Ross Andrews, Non-executive Director, said:

"It has been a privilege to work with Joe as a fellow Board member. He has played a key role in shaping and growing the business and we have gained enormously from his leadership, unwavering principles and passionate commitment to InnovaDerma. We are grateful to him and on behalf of the team I thank him for his contribution to the business and wish him the very best for the future."

This announcement contains inside for the purposes of Article 7 of EU Regulation 596/2014.

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