Indivior appoints new board members, CFO to step down; shares drop

Indivior PLC (LON:INDV ) shares dropped 4.5% following the announcement of changes to its Board of Directors, as well as the news that the company's CFO will step down.

The company revealed today the appointment of two new independent non-executive directors, Robert Schriesheim and Joe Ciaffoni, both bringing expertise in corporate transformation and specialty pharmaceuticals, respectively.

They will also serve on the Nomination and Operational Committee of the Board.

In a move to align with common US listed company practices, Ryan Preblick, the Chief Financial Officer of INDV, will step down from his position.

The search for a replacement for the outgoing Board Chair, Graham Hetherington, whose departure was announced on October 4, 2024, continues. The company is considering the addition of another non-executive director to its Board.

Additionally, INDV is planning to transition to a standard US remuneration system for directors. Under the proposed system, a significant portion of the directors' fees, including those of non-executive directors, will be paid in INDV shares.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com