16th Jan 2015 18:27
LONDON (Alliance News) - NetScientific PLC Friday said Chief Executive Officer Farad Azima has "been removed from the board with immediate effect."
Azima leaves the company after the board of NetScientific "unanimously agreed to terminate Farad's appointment," said the company in a statement.
Current Chair of the Board, Richard Sykes, has been appointed as executive chairman of the company until a new chief executive is appointed. Sykes has previously been chairman and chief executive of GlaxoSmithKline PLC.
NetScientific shares closed up 1.5% to 167.00 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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