Tissue Regenix CEO to take leave of absence due to ill health

The chief executive officer of Tissue Regenix, Steve Couldwell, will be taking a leave of absence from the start of the next year as he undergoes medical treatment.

During his absence, which is expected to span the first quarter, the board has approved interim management changes to ensure the continuity of the group's strategy. Chairman John Samuel will become executive chairman and Gareth Jones, the current chief financial officer, will become chief operating officer.

John Samuel said: "Steve has done an excellent job of establishing a sound business strategy and delivering positive sales momentum. We are confident we will continue to execute against this strategy and on behalf of the board and everyone at Tissue Regenix, I wish Steve a full and speedy recovery."

The AIM-listed medical technology company also gave a one-line update on trading, saying current trading for FY18 remains in line with the board's expectations.