Iain Ross & Novogen

12 Nov 2014: Chairman's Address (GK) to Shareholders:

"The second is that I am going to step down as Chairman before Christmas and hand that role to my fellow director, Iain Ross. Iain has extensive experience at the helm of companies, including biotech companies, and brings an enormous wealth of experience in steering young companies through their formative years."

http://hotcopper.com.au/threads/ann-chairmans-address-to-shareholders.2400766/#.VbIAqbsViUk

12 Nov 2014: Novogen Announces Close Of Capital-Raise & Additional Initiatives To Secure Further Funding:

- "Iain Ross (Board Director), who has extensive international business​

development experience in the pharma/biotech sector, will work closely with
Dr Kelly to ensure continued funding of the CanTx joint venture with Yale in
order that its Cantrixil program is moved into clinical development in 2015."

http://hotcopper.com.au/threads/ann...-additional-initiatives.2400742/#.VbIBjbsViUk

A week later after 81/2 months with Novogen - Iain Ross suddenly quits citing "conflict of interest".. he was meant to be bumped up to Chairman - but he had to work closely with GK on joint venture with Yale & Cantrixil first..

Novogen also copped a deficiency notice from the Nasdaq on the 12th of November - maybe Ross left fearing the funding would not be around and losing the American Nasdaq listing would strand Novogen in Australia only. Ross was going to get the Chairmanship - he has returned once Nasdaq listing and Novogen funding was fixed....

IMOO Ross returns once issues sorted around Nasdaq listing and Novogen funding - deal is GK has to step aside altogether to help deal with the American image problem he seemed to have - Novogen never seemed to get much of a sp a lift from his presentations over there...I like this better and it tells me all is well on the good ship Novogen & GK still has exposure through his shareholdings like the rest of us

Combine that with what GK had to say when Ian Phillips & Bryce Carmine were appointed to the board on the 3rd of June - 8 weeks ago:

"Both directors hold US residency and are domiciled in the US, Bryce in Chicago and Ian in New York. This is a deliberate strategy to reflect the growing presence of the Company in the US and its growing US shareholder base, in addition to the Company's projected business growth in the US.."

http://hotcopper.com.au/threads/ann...th-two-new-appointments.2528210/#.VbIM17sViUk

The US is quite clearly the focus from here on in - GK had image issues from his past and didn't seem to be getting traction over there even though he was very popular here. Has he simply fallen on his sword for the good of the company going forward.. Iain Ross returning to the board is IMO a very clear vote of confidence in Novogen