Induction Healthcare has undergone a management reshuffle including the appointment of a new CEO.

The listed HealthTech headquartered in London, which helps healthcare professionals deliver better care more efficiently, has promoted interim Head of Product/Development and non-executive director Dr Hugo Stephenson to the top job.

Current CEO Ibs Mahmood will take on the newly formed role of Chief Business Officer to focus more on the execution of Induction's buy-and-build strategy and corporate development. He will remain on the board.

The company also announced that Shelley Fraser, previously interim CFO, has now been appointed to the CFO role on a permanent basis and has joined the board.

All changes are effective immediately.

"Hugo's role as interim Head of Product/Development has increasingly seen both of us sharing the operational responsibilities incumbent upon a CEO,” said Mahmood.

“To better maximise our respective skillsets, Hugo, the rest of the board and I have determined it would be prudent for Hugo to take on the CEO role fully whilst my new role will allow me to focus more on the pursuit of business and corporate development opportunities in line with our growth strategy."

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Dr Stephenson said: "I am excited to be taking on the role of CEO. Ibs has been excellent in the role throughout his tenure but given his track record in deal making and my long experience of product development, we will now redistribute our roles.

“Ibs will remain an integral part of the team as we implement our strategy and focus on the key areas to ensure our long-term growth.

“On behalf of the board, I would also like to welcome Shelley as our permanent CFO and full member of the board."