Bruce Smith, director and non-executive chairman of IP Group, the UK-based investor and university commercialisation company, is stepping down from both positions as soon as a suitable successor has been identified.
Smith originally joined the board in September 2002 and became non-executive chairman upon the company’s flotation on the London Stock Exchange in 2003.
Smith has been awarded a CBE and is a fellow of the Royal Academy of Engineering, as well as a fellow of the Institution of Electrical Engineers and the Institute of Physics. He is also a Domus Fellow of St Catherine’s College, Oxford. He is 75.
IP Group has not announced a timeline for the search of a replacement.
Bruce Smith, director and non-executive chairman at IP Group, said: “Since I joined the board, the group has undergone a period of rapid growth and transformation and I feel privileged to have worked with such a talented team over the last twelve years. IP Group remains in a very strong position and I feel that now is the right time for me to step down and allow a new chairman to take the helm for the next phase of growth. I would like to wish both the board and the company’s staff continued success in building and developing the company.”
