Axis-Shield celebrates £8.1m profit as Brown to replace Keen after 26 years as chairman

AXIS-SHIELD has named John Brown, an honorary professor at the University of Edinburgh, as its new chairman after unveiling a near doubling in profits for 2009.

Brown, who has been a non-executive director with the Dundee-based medical diagnostics group for a year, will replace Nigel Keen following the company's annual general meeting in May.

A director of several life-science companies, Brown chairs both the Roslin Foundation and the Life Sciences Industry Advisory Board and is a Fellow of the Royal Society of Edinburgh.

Outgoing chairman Keen said Brown was the "ideal person" to lead the board, adding: "Since his arrival in March 2009, we have benefited from John's clear thinking and his contribution to the Board's discussions."

Keen hailed Axis-Shield's position: "I am proud to be leaving the company in such a strong position as a fast-growing, respected and profitable global provider of innovative diagnostic products."

Keen joined the board of Shield Diagnostics in 1984, became chairman in 1988 and led its merger with Axis Biochemicals in 1999.

Chief executive Ian Gilham said after 26 years with the company Keen was seeking new challenges.

Yesterday, Axis-Shield reported a 13 per cent rise in annual revenues to 96.7 million, with underlying profit up 80 per cent to 8.1m.

It was boosted by a strong roll-out of Afinion, its device that allows tests to be conducted in physicians' offices, with results available within minutes.