Gray removed from Sirtex board

Shareholders in liver cancer treatment company Sirtex Medical Ltd voted to remove company founder Bruce Gray from its board this morning, bringing to an end an acrimonious boardroom battle.

Dr Gray was removed in a vote of 23.9 million for and 17.8 million against, following his own attemtps to oust independent Perth-based director Grant Boyce and Richard Hill, who replaced him as chairman after he stepped down in September last year.

Mr Boyce retained his directorship after Dr Gray dropped his attempt to get Mr Hill removed in October.

Dr Gray will retain an interest in 17.4 million shares, representing around 31 per cent of all Sirtex shares.

The company has been involved in increasingly complex and bitter legal wrangling since the University of Western Australia, which previously employed Dr Gray, claimed that it was the rightful owner of Sirtex's intellectual property.

The company and various directors have since launched cross claims and defamation proceedings.