Douglas Flint has been appointed as chairman of IP Group, taking over from Mike Humphrey on November 1.
UK-based commercialisation firm IP Group today appointed Douglas Flint, former group chairman of financial services firm HSBC, as non-executive chairman and director effective November 1.
Flint will replace Mike Humphrey, who will step down on October 31 following an announcement in May this year that he wished to retire. Humphrey had joined IP Group’s board of directors in 2011 before becoming chairman in 2015.
Flint was the group chairman of HSBC from 2010 to September 2017, having previously been the bank’s group finance director for 15 years.
He served as non-executive director at oil and gas company BP from 2005 to 2011 and chairman of the Institute of International Finance from 2012 to 2016. Flint began his career training as a chartered accountant with professional services firm KPMG, where he became a partner in 1988.
Flint holds a range of other positions currently, such as chairman of the Archbishop of Canterbury’s Just Finance Foundation and director of the Centre for Policy Studies, chairman of the corporate board of Cancer Research UK and is a trustee of Royal Marsden Cancer Charity.
Flint was honoured with a commander of the British Empire in 2006 for his services to the financial industry.
Flint said: “I have long been fascinated by how to develop fully the exciting commercial opportunities that emerge from research developed within the world’s leading academic institutions and I am excited to be given the opportunity to chair one of the leading companies focused on backing and building world-changing businesses based on innovative science and technology.
“I am very impressed with IP Group’s business model and am looking forward to working with the team to help deliver value for all stakeholders”.
Alan Aubrey, chief executive of IP Group, said: “I am delighted to welcome Sir Douglas to the board. He is one of most respected directors in the FTSE 100 with a wealth of highly relevant experience.
“The group will benefit enormously from his expertise and we look forward to working with him at this exciting point in IP Group’s development. I would also like to reiterate the board’s thanks to both Mike Humphrey and Prof Lynn Gladden for their counsel and contribution to IP Group.”
IP Group also confirmed that Lynn Gladden will step down from the board effective September 30 to avoid a potential conflict of interest as she becomes executive chairman of the UK Engineering and Physical Sciences Research Council next month.