IP Group PLC Appointment of Chairman; Board changes (9280A)
September 17 2018 - 1:01AM
UK Regulatory
TIDMIPO
RNS Number : 9280A
IP Group PLC
17 September 2018
FOR RELEASE ON 17 September 2018
IP Group plc - Appointment of Sir Douglas Flint as Non-Executive
Chairman; Board changes
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the
Company"), the developer of intellectual property-based businesses,
is delighted to announce the appointment of Sir Douglas Flint, CBE
as Non-executive Chairman and Director of the Company. Sir Douglas
has initially been appointed as Chairman-Elect with effect from
today and will assume the role of Chairman with effect from 01
November 2018.
Sir Douglas will replace Mike Humphrey who, as the Group
announced in May, had indicated that, for personal reasons, he
wished to retire and step down from the position of Non-executive
Chairman and Director of the Company as soon as a suitable
replacement was found. Accordingly, Mr Humphrey will step down from
the IP Group Board at the close of business on 31 October 2018.
Sir Douglas retired as Group Chairman of HSBC Holdings plc on
30(th) September 2017, having been appointed to that role in
December 2010. For fifteen years prior to this he was HSBC's Group
Finance Director, joining from KPMG where he was a partner. Between
2005 and 2011 he was also a Non-Executive Director of BP plc. Mr
Flint was Chairman of the Institute of International Finance from
June 2012 to December 2016 and was a member of both the Mayor of
Beijing's and the Mayor of Shanghai's International Business
Leaders' Advisory Councils. Amongst other roles he is currently
Chairman of the Archbishop of Canterbury's Just Finance Foundation,
a Director of the Centre for Policy Studies, on the Global Advisory
Council of Motive Partners, a fintech specialist investment
platform, Chairman of the Corporate Board of Cancer Research UK and
a Trustee of the Royal Marsden Cancer Charity. In December 2017 he
was appointed by the Chancellor as Special Envoy to China's Belt
and Road Initiative.
In addition, IP Group confirms that Professor Lynn Gladden will
step down from the IP Group Board at the close of business on 30
September 2018. On 04 May 2018, the Group announced that Professor
Gladden had been appointed to the role of Executive Chairman of the
Engineering and Physical Sciences Research Council (EPSRC) with
effect from 1 October 2018 and, as such, was required to step down
from her role at IP Group on or before 31 December 2018 to avoid
any potential conflict of interest.
Sir Douglas Flint said: "I have long been fascinated by how to
develop fully the exciting commercial opportunities that emerge
from research developed within the world's leading academic
institutions and I'm excited to be given the opportunity to chair
one of the leading companies focused on backing and building
world-changing businesses based on innovative science and
technology. I'm very impressed with IP Group's business model and
am looking forward to working with the team to help deliver value
for all stakeholders".
Alan Aubrey, Chief Executive of IP Group, said: "I am delighted
to welcome Sir Douglas to the Board. He is one of most respected
directors in the FTSE 100 with a wealth of highly relevant
experience. The Group will benefit enormously from his expertise
and we look forward to working with him at this exciting point in
IP Group's development. I would also like to reiterate the Board's
thanks to both Mike Humphrey and Professor Lynn Gladden for their
counsel and contribution to IP Group."
This announcement is made pursuant to Listing Rule 9.6.11R.
There are no other details required to be disclosed under Listing
Rule 9.6.13R. There are no further disclosures required under the
Disclosure and Transparency Rules. Sir Douglas currently owns 2,400
ordinary shares in IP Group.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Martha Walsh +44 (0) 7876 245962
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
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END
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