IP Group appoints Douglas Flint as chairman

IP Group has appointed Sir Douglas Flint as non-executive chairman and director of the company.

Flint will become chairman elect with immediate effect and will assume the role of chairman from 1 November. He succeeds Mike Humphrey, whose departure was announced back in May.

Flint retired as group chairman of HSBC Holdings in September 2017 after seven years in the job. For 15 years prior to that, he was the company's group finance director, joining from KPMG, where he was a partner. Between 2005 and 2011 he was also a non-executive director of BP.

IP Group also confirmed on Monday that Profession Lynn Gladden will step down from the board on 30 September, after being appointed to the role of executive chairman of the Engineering and Physical Sciences Research Council with effect from 1 October.

Chief executive Alan Aubrey said: "I am delighted to welcome Sir Douglas to the board. He is one of most respected directors in the FTSE 100 with a wealth of highly relevant experience. The group will benefit enormously from his expertise and we look forward to working with him at this exciting point in IP Group's development. I would also like to reiterate the board's thanks to both Mike Humphrey and Professor Lynn Gladden for their counsel and contribution to IP Group."