PolyNovo (ASX:PNV) has announced that David Williams has resigned as Chair of the company's Board, bringing to a close an 11-year tenure that has coincided with the company’s transformation from an early-stage medical technology venture to a global wound care business.
Williams will not stand for re-election at the company’s Annual General Meeting on 28 October, and the resolution to re-elect him has been withdrawn. Current Non-Executive Director Leon Hoare has been appointed as Chair with immediate effect.
Hoare brings more than 30 years of industry experience, including senior leadership roles across wound management and medical technology sectors. He also has extensive board experience with PolyNovo and will step down from his current executive role at the end of December to focus on the Chair position. His appointment aligns with the company’s previously announced board succession plans and governance review.
“On behalf of the Board and shareholders, I would like to thank David for his 11 years of dedicated service as Chair,” said Leon Hoare. “Under David’s leadership, PolyNovo evolved from an early-stage medical device venture to a global medical technology company. The company achieved record growth in sales and expanded its presence to 46 countries, delivering innovative wound care solutions to patients worldwide.”
Williams reflected on the company’s growth during his time as Chair. “It has been a privilege to serve as Chair of PolyNovo. I am extremely proud of what we have accomplished, especially the number of lives we have changed and saved. I am very pleased with PolyNovo’s new CEO, Bruce Peatey, new director Rob Douglas, and new Chair Leon Hoare.”
The leadership transition comes ahead of Bruce Peatey's commencement as CEO in December and the recent appointment of Rob Douglas to the board. The company said the changes are structured to ensure “a smooth transition with no disruption to the company’s operations or strategic direction.”
PolyNovo develops and commercialises its NovoSorb platform technology, including NovoSorb BTM, a dermal scaffold used to treat acute complex wounds. Its products are currently used in more than 46 countries, with over 84,000 patients treated worldwide.