Charles Winward leaves the company and David Baynes becomes new chief operating officer (COO).
IP Group, the developer of intellectual property-based businesses, has appointed David Baynes (pictured) to its board as the new COO. At the same time, Charles Winward is stepping down from the board and leaving the group to pursue other activities.
Baynes’ appointment follows IP Group’s acquisition of Fusion IP, of which he was one of the founders and the chief executive officer, in March 2014. The board directors also intend, over time, to move towards a board structure that will see an increased proportion of independent non-executive directors, in line with corporate governance best practice.
Meanwhile, Charles Winward is stepping down from the board and leaving the company. He first joined IP Group in April 2007 and had been an investment manager since. His decision to leave was based on the wish to take on new challenges.
Alan Aubrey, chief executive officer of IP Group, said: “I would like to welcome David to this key role in the company, particularly as we go through the process of integrating Fusion IP. I would also like to thank Charles for his commitment and hard work over the last eight years and to wish him all the very best for the future.”