OptiBiotix Health plc (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announced today that subject to the completion of normal regulatory due diligence Neil Davidson CBE will be appointed as Non- Executive Chairman on 1 January 2018.
Adam Reynolds, the current Non-Executive Chairman will step down on 31 December 2017.
Neil brings to the Board over thirty years of operational and Board experience as Chairman and Chief Executive of FTSE 100, AIM, and private companies in both an executive and non-executive capacity.
Neil has a wealth of commercial expertise in the food and retail sectors having started his career with Northern Foods plc, where he rose to become Managing Director of its milk division. He subsequently became Chief Executive of Express Dairies plc and then Arla Foods plc before taking on a number of Board positions in FTSE listed and private companies.
Neil’s experience in the public markets includes non-executive positions with a number of FTSE 100 companies such as Persimmons plc (£3.1bn revenue: 2016) from 2004-2013 and Wm Morrison Supermarkets (16.3bn revenue: 2016), where he is currently a Non-Executive Director. Neil was also Non-Executive Chairman of AIM quoted Produce Investments plc. Neil was awarded a CBE for services to the food and dairy industry in 2006.
Neil has a personal interest in the development and commercialisation of technology to improve health. He was Chairman of Eminate, a spin out from the University of Nottingham which developed an alternative to salt which was licensed to Tate and Lyle, and Cherry Valley Farms, a genetics business which had extensive operations in China and the Far East, which was sold to an Asian private equity group in 2010. Neil has an extensive network of industry contacts and experience in sector specific M&A transactions.
Stephen O’Hara, CEO of OptiBiotix Health Plc, commented: “I am delighted to welcome Neil to the Board. He brings a unique mix of sector specific commercial expertise and a track record of building shareholder value. His network of contacts and wealth of experience on the Board of some of the UK’s largest public companies will help guide OptiBiotix as it builds a microbiome business in what is forecast to be one of the world’s fastest growth areas. The Board anticipates a future where microbiome products will be at the forefront of preventing, managing and treating many of today’s chronic lifestyle disease and we hope under Neil’s guidance OptiBiotix will continue to be one of the world’s leaders in this exciting and emerging field.
On behalf of the Board, I would like to thank Adam Reynolds, our outgoing interim Chairman, for his substantive contribution in helping guide OptiBiotix through its early developmental years. Adam has been an integral part of OptiBiotix’s success and we wish him well in his future projects.”
