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(Alliance News) - Frontier IP Group PLC on Tuesday said its chief financial officer has signalled his intention to step down after 10 years of service.
The London-based intellectual property commercialisation company said Jim Fish will remain as CFO during a six-month notice period which will end no later than May 31.
Frontier IP said Fish will remain focused on running the group's finance function and continue to support the group during his six month notice period. This is alongside working to ensure an effective transition of his responsibilities to his successor. Frontier IP intends for a handover period of three months.
Following the appointment of a new group CFO and the completion of the necessary handover period, Fish will take up a new position within the group as portfolio finance director where he will continue to support the portfolio companies and will report into the group chief executive officer.
Frontier IP said it has begun the process to find a new CFO and a further announcement will be made in "due course".
"Jim has played a central role in helping us build Frontier IP over the last decade, during which we have experienced significant evolution and growth. I am delighted that despite stepping back from his board role he will continue to work with our portfolio companies as they too grow," said CEO Neil Crabb.
Outgoing CFO Fish commented: "It has been a privilege to have served as Frontier IP's CFO over the past 10 years and I am very proud of my contribution to the company's progress over that time. I look forward to my new role working with some of the exciting companies in Frontier's portfolio."
Shares in Frontier IP were down 0.6% to 40.77 pence each in London on Tuesday afternoon.
By Greg Rosenvinge, Alliance News senior reporter
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