Directorate Change

RNS Number : 2568F
IP Group PLC
23 April 2014
 

 

FOR RELEASE ON

23 April 2014

 

Board changes

 

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, is pleased to announce that it has appointed David Baynes to the role of Chief Operating Officer. David, who was previously Chief Executive Officer of Fusion IP plc ("Fusion IP"), was appointed to IP Group's Board upon completion of the Group's acquisition of Fusion IP last month.

 

Separately, IP Group also announces that Charles Winward is stepping down from the Board and leaving the Group today to pursue other opportunities. The Board would like to thank Charles for the significant contribution he has made to the Group and its portfolio companies over the last eight years.

 

The Directors intend, over time, to move towards a Board structure that will see an increased proportion of independent non-executive directors on the Board, in line with corporate governance best practice.

 

Alan Aubrey, Chief Executive of IP Group, said: "I would like to welcome David to this key role in the Company, particularly as we go through the process of integrating Fusion IP. I would also like to thank Charles for his commitment and hard work over the last eight years and to wish him all the very best for the future."

 

David Baynes, Chief Operating Officer, said: "I am delighted to be taking on the role of COO at such an exciting time in the development of IP Group."

 

Charles Winward said: "After eight years at IP Group, I have reached a point where I am ready for a completely new challenge. I would like to thank all of my colleagues for their support over the years and to wish the business every success."

 

As a result of the above changes, Charles' name will be withdrawn from consideration for re-election to the Board as contemplated in the Notice of Annual General Meeting to be held on 13 May 2014.

 

For more information, please contact:

 

IP Group plc

www.ipgroupplc.com

Alan Aubrey, Chief Executive Officer            

+44 (0) 20 7444 0050

Liz Vaughan-Adams, Communications   

+44 (0) 20 7444 0062 / +44 (0) 7979 853 802

liz.vadams@ipgroupplc.com

FTI Consulting


John Dineen

+44 (0) 20 7831 3113

 

Notes for editors

 

About IP Group

 

IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

 

The Company's portfolio comprises holdings in over 90 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

 

The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Healthcare, Biotech, IT & Communications and Chemicals & Materials.

 

For more information, please visit our website at www.ipgroupplc.com.

 

ENDS


This information is provided by RNS
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