A former boss of Centrica, the proprietor of British Fuel, is among the many candidates being thought-about to chair IP Group, the early-stage science investor.
Sky Information has learnt that Iain Conn, who spent a decade in senior roles at BP, is one among a small variety of contenders to exchange Sir Douglas Flint.
Metropolis sources stated a choice was anticipated to be made by IP Group’s board about its subsequent chairman earlier than the tip of the 12 months.
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Mr Conn left Centrica in 2020 after 5 years within the high job.
IP Group has backed corporations together with Hinge Well being, which just lately floated in New York, and London-listed Oxford Nanopore.
Final 12 months, it benefited from a considerable payout for its stake in Featurespace following its £700m sale to Visa.
The London-listed firm’s portfolio additionally consists of stakes in corporations similar to First Mild, a nuclear fusion specialist.
This week, it introduced half-year outcomes disclosing hat it referred to “funding delays and pricing strain for Oxa and Artios”, wherein it stated the worth of its holdings had declined by greater than £35m.
IP Group’s shares have been buying and selling at round 53p on Thursday afternoon, giving the corporate a market capitalisation of just about precisely £500m.
A spokeswoman for IP Group declined to remark.
