Administrators of NMC Health revamp company's board
Reuters
Published Apr 14, 2020 02:14AM ET
Updated Apr 14, 2020 02:45AM ET
DUBAI (Reuters) - The administrators of troubled hospital operator NMC Health (L:NMC) have announced a new board for the London-listed company that brings in four new non-executive directors with international restructuring experience.
Previous board members, including executive chairman Faisal Belhoul have been removed, the administrators said in a statement.
The move came after London's High Court on Thursday placed NMC Health into administration, on the application of one of its biggest lenders, Abu Dhabi Commercial Bank (ADCB).
Michael Brenden Davis remains as interim chief executive officer and chief operating officer, but does not sit on the company's board, the administrators from Alvarez & Marsal said.
"We formed a new board with extensive restructuring experience to ensure more robust standards of governance in NMC Health," said Richard Fleming, joint administrator of NMC Health in a statement
"The board has already met to begin the detailed work necessary to create the governance platform in the Group supporting real stability for NMC’s operating businesses."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.