Venture Life chair to remain as conflict of interest no longer exists

Venture Life Group PLC on Monday said Paul McGreevy will remain on the board as chair, and not step down as previously announced.

The Berkshire, England-based developer and manufacturer for the self-care market in February said McGreevy would step down from the board, as the firm’s growing presence in the vitamins and minerals market presented a potential conflict of interest with his position as chief executive officer of Revive Active Ltd.

Venture Life said this conflict ‘no longer exists,’ and as such, McGreevy no longer needs to step down.

The board will not appoint a replacement non-executive director and previously incoming Chair Mark Adams will remain as a non-executive director.

Chief Executive Officer Jerry Randall said: ‘I am delighted that Paul is able to continue to chair the company. Since joining us Paul has contributed significantly to the development of the company and I am sure he will continue to do so.’

Shares in Venture Life were down 5.7% to 50.00 pence in London on Monday afternoon.

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