Surgical Innovations chief exec steps down

THE chief executive of Surgical Innovations, Graham Bowland, has stepped down. 

Bowland has stepped down as the keyhole surgery specialist’s CEO with immediate effect, the Leeds firm announced yesterday. Chief financial officer Mike Thornton has been appointed as the interim chief executive officer.

As reported last week, in the six months to June 30, the group, a specialist in the design and manufacture of creative solutions for minimally invasive surgery (MIS), reported a drop in revenue from £3.9m to £1.8m.

It also revealed that it may pull the plug on plans to build a state-of-the-art research and development centre in Leeds following a “disappointing” first half performance.

Bowland became the CEO of Surgical Innovations in 2010. He joined SI in 1999 as financial controller and was promoted in the same year to the group board as finance director and company secretary. Appointed joint managing director of Surgical Innovations in 2000 and made sole managing director in 2008, he has been instrumental in building upon the company’s reputation within the industry for innovation and in-house manufacturing.

The company’s non-executive directors have agreed to waive their entitlements to receive any remuneration in respect of services they provide to the business until further notice as part of a focus on cost savings and cash generation.

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