Pacific Edge chairman Chris Gallaher has announced his retirement from the board.
In a statement to the NZX this week, the Dunedin-founded cancer diagnostics company announced the retirement of Mr Gallaher and non-executive director Mark Green.
Mr Gallaher, who joined the board in 2016, had resolved to reduce his governance commitments and had indicated his intention to retire from the board following the appointment of a successor and a structured handover at the end of this year.
Meanwhile, with his family having made new commitments offshore, Mr Green had notified the board he did not intend to seek re-election at the company’s annual shareholders meeting in September. He joined the board in May 2021.
The directors had resolved to deliver advance notice of their decision to provide stability and confidence to Pacific Edge and its stakeholders during the continued uncertainty over the Medicare coverage status for the company’s Cxbladder tests , the release said.
The board’s nomination committee had begun a process to appoint a new chairperson and consider the recruitment of new independent directors.
“Pacific Edge is on the threshold of a new phase of development, with Medicare’s upcoming determination … In the face of such change, I believe it important that the board of Pacific Edge now puts in place new governance and leadership for the long-term,” Mr Gallaher said.
“I have great confidence in the future of Pacific Edge. We have, over the last two years, established a dedicated and skilled management team under chief executive Dr Peter Meintjes to develop our world-leading technology with comprehensive clinical evidence generation and medical communications. And, we have the capital reserves that position Pacific Edge for success no matter the Medicare determination,” he said.
