Tech group, Nanoco, has announced this morning that CEO Brian Tenner is planning to leave the company.
It means over the coming months that it will be replacing both its CEO and Chairman. Dr Chris Richards had already stated that he planned to leave Nanoco at the next AGM. However, in today’s update, he said he would remain in the role until a new CEO was in place.
“The Board is grateful to Brian for leading the business through challenging times in which we achieved a number of significant milestones, not least the settlement of litigation with Samsung,” said Richards.
“The financial outcome allowed us to reward shareholders for their support with a return of capital but also underpinned a solid foundation for the future in the company’s strong cash position. A new CEO will be able to take the business forward on that basis and focus on further developing the company’s commercial traction. On behalf of everyone at Nanoco, the Board thanks Brian for his substantial contribution and wishes him and his family all the best for the future.”
The company is one of the biggest global players in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials. A spin-out from the University of Manchester, it recently launched a new tech facility in Runcorn.
Tenner joined Nanoco in 2018 and was named CEO in September 2020. He has agreed to stay in position until a successor has been appointed and will provide “a period of handover and consultation.”
“I have been honoured to lead the talented team at Nanoco while building the business for six years, first as COO and CFO and then as CEO,” he said.
“The transition to a period in which a successor can focus squarely on the commercial development of the company is a good moment to start the process of identifying the successful candidate and handing the baton on.”
A search is now underway to recruit his replacement.
