The Chairperson typically runs the ~ monthly board meetings and is the "leader" of the board. The board sets the direction for the Executive, who carry out the plans. Anyone with a technical background may use their network to bring additional experience as required to advance the company's strategic objectives. But typically the Chairperson isn't there from day to day, unless they are an MD.
Barring Drs Wilbert having a massive conflict of interest with his recent board appointment, I can't see why he wouldn't stay. The demands of the appointment aren't excessive - just turn up to monthly board meetings and any general meetings. Directors have multiple board roles all the time. The program is nearing completion - his job is not to deliver the work (which is nearly completely outsourced at this point anyway) but to oversee the wider direction of the company.
All speculation on my part but, he is still as financially exposed to the business via options and shares. With demands from recent board appointment, the running down of the clock on the development program (company is basically in auto pilot now until PL4 is done and the outcome is basically out of his hands) he probably feels it is time to move on.
4DS Price at posting:
3.1¢ Sentiment: Sell Disclosure: Not Held
