6th Jul 2015 06:56
LONDON (Alliance News) - Velocys PLC Monday said it has suspended Chief Executive Roy Lipski whilst an investigation is carried out over allegations of "serious misconduct".
The gas-to-liquid company said the allegations do not involve fraud or financial impropriety and said the investigation and his suspension does not constitute as disciplinary action or imply he is guilty of any offences.
"The board will keep his suspension under review and will aim to make the period of suspension no longer than is reasonably necessary," said Velocys.
Whilst the investigation is carried out, current Chief Financial Officer Susan Robertson will act as the company's CEO.
On a more positive note, Velocys confirmed it is currently trading in line with expectations.
By Joshua Warner; [email protected]; @JoshAlliance
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