Velocys' CEO steps down

(ShareCast News) - Velocys' chief executive Roy Lipski is set to leave the small scale gas-to-liquids company with immediate effect, the group said on Tuesday.In a short statement, the London-listed company said the decision was mutually agreed and that the group will shortly begin the search for a replacement for the outgoing CEO, who spent over nine years in the role."Through his entrepreneurial skills and spirit he [Lipski] has led its transformation from an interesting idea to a substantial company with proven technology on the verge of commercialisation," said group chairman Pierre Jungels.Velocys shares were down 0.42% to 89.25p at 0845 BST on Tuesday.