NetScientific PLC (AIM:NSCI) said that executive chairman John Clarkson is moving to a non-executive role with immediate effect as he plans to stand down next year.
He joined the board in December 2019, was appointed non-executive chairman in March 2020 and executive chairman in December 2020.
The life sciences and technology holding company highlighted that during this three-year period, the company has “made substantial progress with the turnaround of the business and implementation of its growth strategy to deliver shareholder value, with proactive commercial management, a capital light investment model, trans-Atlantic development, and expansion of the portfolio from eight to 23 companies”.
Clarkson has told the board of his wish to leave during the first quarter of 2023 and has agreed to remain as chairman while a replacement is found.
He has also agreed to provide consultancy and advisory services to group companies until the end of next year, for which the company said he will receive an aggregate remuneration that is within his contractual entitlement to payment in lieu of notice.