Clinical development business Ergomed has announced that its chairman Rolf Stahel will retire from the board in March 2017 when his three-year term of office expires.

Stahel will be succeeded by Peter George, who has been a non-executive director of the company since July 2014.

Dr Miroslav Reljanović, chief executive of Ergomed, said: “I should like to thank Rolf for his invaluable insights and experience over the last few years which have helped shape Ergomed, both through the IPO and subsequently. We appreciate the advance notice of his intention to retire from the board as it allows for an orderly succession. With that in mind, we are fortunate to have on the board a suitable successor in Peter, who I have enjoyed working with and I look forward to the value he can add in the years ahead.”