Venture Life chair steps down due to conflict of interest

(Sharecast News) - Venture Life announced changes to its board on Tuesday, with chair Paul McGreevy set to step down in late April due to a potential conflict of interest following the company's acquisition of Health & Her in November. The AIM-traded firm said McGreevy, who is also CEO of Revive Active, a vitamins and minerals business, identified the growing overlap between the two companies as the reason for his departure.

Mark Adams, a non-executive director since 2022, would take over as chair at the time of the company's annual results announcement for the year ended 31 December.

A search was meanwhile underway to appoint a new non-executive director, who would also assume Adams's current role as chair of the audit committee.

"I will be very sorry to lose Paul from the board as he has been such a positive influence and support for VLG since he joined, as well as an exceptional mentor for me," said chief executive officer Jerry Randall.

"I am sure the board and everyone at VLG will join me in thanking Paul for all he has done for us and wishing him well for his future endeavours."

At 1412 GMT, shares in Venture Life Group were down 1.45% at 34p.

Reporting by Josh White for Sharecast.com.