Pacific Edge chairman staying on
Pacific Edge chairman Chris Gallaher has delayed his retirement for the second time to ensure stability and continuity on the cancer diagnostics company's board.
In March last year, the company announced Mr Gallaher's intention to retire following the appointment of a successor and a structured handover at the end of the year.
But in September, the board asked him to remain as chairman into 2025 to provide stability and confidence amid the continued uncertainty over the Medicare coverage status for the company's Cxbladder tests and the ongoing process to recruit his successor.
Yesterday, Pacific Edge advised Mr Gallaher had accepted an invitation by the company's directors to seek re-election to the board at its annual shareholders meeting in Auckland on August 6.
The statement said the invitation was extended because they believed shareholders' best interests were served with the continuity and stability of Mr Gallaher's leadership while the company continued to navigate the loss of Medicare coverage for Cxbladder products.
Mr Gallaher, who joined the board in 2016, was due to retire by rotation and independent directors Sarah Park and Tony Barclay, who were also due to retire by rotation, had indicated they would stand for re-election.
Mr Gallaher said the inclusion of Cxbladder Triage in the American Urological Association's new microhematuria guideline had allowed Pacific Edge to view the local coverage determination that ended Medicare coverage of its test through a different lens. As it moved through the process to seek re-coverage, he was happy to continue.
— APL
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