Administrators of NMC Health revamp company’s board

imageStock Markets10 hours ago (Apr 14, 2020 02:45AM ET)

(C) Reuters. FILE PHOTO: General view of NMC specialty hospital in Abu Dhabi

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.”

Administrators of NMC Health revamp company’s board

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