Old Boss Centrica Conn in Frame to Treat Group IP | Money news Aitrend

Old Boss Centrica Conn in Frame to Treat Group IP | Money news

 Aitrend

A former boss of Centrica, the owner of British Gas, is one of the candidates who are envisaged in the IP Group group, the scientific investor in the start -up phase.

Sky News learned that Aain Conn, who spent a decade in roles greater than BP, is one of the small contenders to replace Sir Douglas Flint.

City sources have said that a decision should be made by the IP Group board of directors about its next president before the end of the year.

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Mr. Conn left Centrica in 2020 after five years in the first job.

IP Group has supported companies such as Hinge Health, which recently floated in New York, and Oxford Nanopore, listed in London.

Last year, he benefited from substantial payment for his participation in features Epace after his sale of 700 million pounds sterling in Visa.

The London -listed company portfolio also includes participation in companies such as First Light, a nuclear merger specialist.

This week, he announced semi -annual results in disclosure of the hat which he referred to “the delays in financing and the price pressure for Oxa and Artios”, in which he declared that the value of his assets had decreased by more than 35 million pounds sterling.

IP Group’s shares negotiated at around 53p Thursday afternoon, giving the company a market capitalization of almost exactly 500 million pounds sterling.

A spokesperson for the IP group refused to comment.

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