The CEO of Nanoco Group plc, a Manchester-based company which develops and manufactures nanomaterials, is stepping down from his position. Brian Tenner led the company through a challenging period, which included a $150 million lawsuit against Samsung. The board has begun searching for a new CEO and Chairman Chris Richards will remain in his role until a successor is appointed. Despite a predicted marginal dip in revenue and adjusted EBITDA this year, Richards believes the settlement with Samsung has provided a strong foundation for the future success of the company.
Tenner has announced his intention to leave Nanoco to pursue new opportunities, and will stay in his role until a replacement has been found. Speaking on behalf of the board, Richards expressed his gratitude for Tenner’s leadership during such a difficult period and encouraged potential successors to focus on scaling up the company’s commercial traction.
Tenner added that he had thoroughly enjoyed his time at Nanoco and wished his colleagues all the best. The announcement follows recent executive departures from other listed companies, including Nexteq.
