11th Aug 2015 07:24
LONDON (Alliance News) - Gas-to-liquids company Velocys PLC on Tuesday said Chief Executive Roy Lipski is to leave the company with immediate effect and by mutual consent.
The company said "project management and engineering skills will be increasingly important keys" to the company's success as it moves towards the commercial phase of its first industrial project.
"In the nine and a half years that Roy has been CEO at Velocys, through his entrepreneurial skills and spirit he has led its transformation from an interesting idea to a substantial company with proven technology on the verge of commercialisation. This is a great tribute to his creativity and drive. We are all grateful to him for his contribution," said Chairman Pierre Jungels.
Jungels added the search for Lipski's replacement will start soon.
Susan Robertson, the company's chief financial officer, will take on the chief executive duties on an interim basis until a permanent replacement is made.
Shares in Velocys were down 0.4% to 89.25 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
VLS.L