FastForward announces that Mr James Mellon has indicated a wish to step down from his roles as a director and Chairman of the Company to allow him to focus more time on his other business activities particularly Juvenescence Limited following the closing of this company's Series B funding as announced earlier this week.
Mr Lorne Abony has agreed to succeed Mr Mellon as Chairman of the Company on an interim basis while remaining as Chief Executive.
Mr Mellon remains the largest individual shareholder owning 10.08% of FFWD issued shares.
Lorne Abony commented: "The whole board would like to thank Jim for his service and assistance over the years. We fully understand Jim's decision to step down as he has many business commitments beyond FastForward which require his full attention and which increasingly absorb the bulk of his available time. Jim will help create value for our shareholders by driving forward the business at a number of our portfolio companies, while the other directors will continue to focus on creating long term value for our shareholders in line with our investment philosophy."
For further information on the Company please visit www.fstfwd.coor contact:
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