InnovaDerma looks for new independent director
January 10, 2017A UK-based maker of hair and skin care products InnovaDerma has been engaged in looking for an independent non-executive Director of the company, as Garry Lemair has decided to step down the board immediately, the company said on Tuesday.
The company said it has begun the search process for an additional Independent Non-Executive Director.
Until it finds one, Rodney Turner and Clifford Giles will be the only Non-Executive Directors in InnovaDerma, and they will be the only members of the Audit Committee, Nomination Committee and Remuneration Committee. Since the company does not consider Clifford Giles to be fully independent, it plans to replace him on the Committees by the new Independent Non-Executive Director, when one arrives. Giles will continue to serve as a Non-Executive Director, the company said.
The Company is also undertaking a review of its committee terms of reference and composition to improve operational efficiency and the Company’s corporate governance.
Haris Chaudhry, Executive Chairman praised Lemair’s efforts during his time with the company and said he contributed a lot to it.“We are sorry to see Garry leave and wish him and his family well for the future,” said Chaudhry.
We’ve sent an email to the company asking how long does it expect to take for the new director to arrive, and if anybody is a candidate for the position. We’ve also asked for the possibility to get anything else on the reason for Lemair’s leaving.
We will update this article with any new information about it.
