Innovations CEO steps down

Technology commercialisation and investment group Imperial Innovations confirmed that Chief Executive Susan Searle has stepped down after 11 years in the role. Chief investment officer Russ Cummings, who has been a director since the group's flotation in 2006, has taken over as CEO with immediate effect. Cummings has previously worked at Scottish Equity Partners where he was responsible for investment in high growth technology companies. Chairman Martin Knight commented: "During her tenure, Susan Searle transformed the group from an operational division of Imperial College London, as its technology transfer office, to a major independent venture capital and technology licensing business.""Thanks to her efforts, Innovations now has a stable platform from which it can deliver its long-term ventures and licensing business objectives."CJ