IDT Australia announces board shake-up

CMO IDT Australia (ASX:IDT) has announced a board reshuffle to support a planned expansion drive.

The company revealed that Alan Blackman and Robert Burnet - both of whom have been serving on the board for 27 years - will step down as directors at the end of June.

Reo Shigeno, CEO of Japanese clinical trial site management company I’rom Holdings’ Australian subsidiary, will join the board as a non-executive director. I’rom Holdings this month acquired an 18.8% stake in IDT Australia for $2 million in shares.

Also joining the board will be Australian biotechnology veteran Graeme Kaufman. A long-time former CSL executive, Kaufman is currently chairman of Bionomics (ASX:BNO) and a director at Cellmid (ASX:CMD).

IDT chairman and founder Dr Graeme Blackman will meanwhile step aside from the role during calendar Q3. A replacement will be selected in the interim.

The board shake-up comes one month after IDT appointed Dr Paul MacLeman as its new CEO. Prior to joining IDT Australia, MacLeman was most recently CEO of Genetic Technologies (ASX:GTG).

IDT Australia shares were trading unchanged at $0.25 as of around 1 pm on Thursday.