25th Apr 2019 11:09
LONDON (Alliance News) - Healthcare technology company NetScientific PLC on Thursday said Chief Executive Francois Martelet has resigned.
Martelet has left, NetScientific said, to help the company in reducing costs and to pursue other career opportunities.
Shares in NetScientific were trading 19% lower at 8.05 pence each.
Martelet will depart on April 30, the company said, adding Chief Financial Officer & Company Secretary Ian Postlethwaite will additionally assume the chief executive role.
NetScientific has also ended the lease on its headquarters in London and continues to review all other activities to manage cash effectively.
"The board would like to put on record its gratitude to François for his leadership of NetScientific since 2015 in a challenging IP commercialisation environment and wishes him every success in his future interests. We will seek to make the most of our reduced central costs with the aim of maximising the potential in our remaining portfolio companies," said Chair Richard Sykes.
In March, NetScientific cut off funding to two portfolio companies - Vortex Biosciences and Wanda Inc - resulting in their orderly wind ups.
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