Business
Board Changes
Genedrive plc announced board changes, with David Nugent joining as a Non-Executive Director and the company's largest shareholder, owning over 25% of issued share capital, who has waived his fee until the company is EBITDA positive. Dr. Ian Gilham will step down as Chairman and Director by the end of June 2026, and Chris Yates will also step down as a Non-Executive Director in the coming weeks. The company is initiating a search for a new independent Non-Executive Chairman and two additional independent Non-Executive Directors. Disclaimer*
About this update from Genedrive Plc
26 May 2026 genedrive plc ("genedrive" or the "Company") Board changes genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, today announces that Mr David Nugent has joined the Board as a Non-Executive Director with immediate effect. David has been a shareholder in the Company for several years and more recently was a key cornerstone investor in the successful equity financing announced on 13 February 2026. He owns over 25% of the Company's issued share capital and is the Company's largest shareholder. David has volunteered not to be paid a fee for acting as a Non-Executive Director until the Company becomes EBITDA positive. Further, Dr. Ian Gilham, who has been a Director of the Company since 2014, including acting as Chairman since 2015, has informed the Board that he anticipates stepping down as Chairman and a Director of genedrive by the end of June 2026. In addition, Chris Yates, who has been a Non-Executive Director of the Company since 2018 has informed the Board that he intends to step down as a Director to focus on his other professional commitments. Chris has agreed to assist the Board during the process to appoint new Non-Executive Board members prior to stepping down sometime over the coming weeks. The Board is commencing the process to recruit a new independent Non-Executive Chairman as well as two other independent Non-Executive Directors and further announcements will be made in due course. Dr. Ian Gilham, Chairman of genedrive plc, said: "On behalf of my fellow Directors I am pleased to welcome David onto the Board today. His support for the Company has been critical to funding our continued growth strategy and we look forward to working closely with him as we execute against our plans to increase the sales and adoption of our two pharmacogenetic tests. Having served as Director of the Company since 2014 it is appropriate that we start the process to find a new Non-Executive Chairman and the Company will update shareholders on this process in due course." David Nugent, Non-Executive Director of genedrive plc, said on his appointment: "I would like to thank Ian and Chris for their commitment to genedrive and recognise their significant contribution over many years. I look forward to continuing to work with them as we appoint a Chair and two independent Non-Execut...