The founder and CEO of FTSE 250 constituent Oxford Nanopore Technologies, Gordon Sanghera, has announced he will step down at the end of next year, after more than 20 years in the role.<\/p>\n\n\n\n
Mr Sanghera, who has spearheaded the MedTech company since its inception in 2005, will leave after guiding the business through significant milestones, including a 2021 IPO, its inclusion in the respected FTSE 250 index in 2024, and achieving a market capitalisation of over \u00a32 billion. He initially established the University of Oxford spinout after spending 16 years as an R&D director at US-based healthcare giant Abbott.<\/p>\n\n\n\n
Oxford Nanopore focuses on delivering a new generation of molecular sensing technology based on nanopores. The company has grown significantly, having recently announced that it expects revenue for the first half of the year to be up 28% on last year, reaching \u00a3105 million. Following this announcement in July, the business saw its share price spike, increasing from 145.8p at the close of trading on the Friday to 176.02p at 9am on the Monday.<\/p>\n\n\n\n
The company’s technology is used in more than 125 countries to understand the biology of humans, plants, animals, bacteria, viruses, and environments, as well as to study diseases such as cancer. In recognition of his role in advancing technologies that have had a global scientific and medical impact, Mr Sanghera was appointed as a CBE in the 2023 New Year Honours.<\/p>\n\n\n\n
Duncan Tatton-Brown, chair of Oxford Nanopore, said: \u201cTwo decades ago, Gordon co-founded Oxford Nanopore with the bold ambition to transform molecular analysis. He has since led the company\u2019s growth into a global business, built a highly differentiated technology platform and fostered a culture of innovation and collaboration that underpins its success. These foundations have supported sustained, above-market growth and position Oxford Nanopore well for the future. On behalf of the board, I want to thank Gordon for his visionary leadership and unwavering commitment to Oxford Nanopore. We are well prepared from a succession perspective and will continue to work closely with Gordon to support a smooth transition as we look to appoint his successor. The board is focused on finding a leader with the vision and capabilities to further advance our growth strategy, driving long term value creation for our stakeholders.\u201d<\/p>\n\n\n\n
Mr Sanghera added: \u201cIt has been a great honour to co-found and lead Oxford Nanopore. I\u2019ve had the privilege of working with an exceptional team whose talent and dedication have underpinned the remarkable progress we\u2019ve achieved together, shaping the company into the innovative force it is today. By next year I will have been CEO of Oxford Nanopore for 21 years. With strong foundations in place for the Company\u2019s continued success, I believe this will be the right time for me to pass the reins to a new leader. In making this decision it has been important to me that the board have ample time to identify a successor to ensure a smooth transition. Until then, I remain resolutely focused on executing our strategic priorities, continuing our strong performance, and driving the business to profitability. With strong momentum across all our geographies and target end markets \u2013 as demonstrated in our recent half-year update \u2013 I\u2019m confident Oxford Nanopore is well-positioned to capture the significant opportunity ahead and continue delivering for our customers, partners, employees and shareholders.\u201d<\/p>\n\n\n\n
Image source: LinkedIn<\/p>\n","protected":false},"excerpt":{"rendered":"
The founder and CEO of FTSE 250 constituent Oxford Nanopore Technologies, Gordon Sanghera, has announced he will step down at the end of next year, after more than 20 years in the role. Mr Sanghera, who has spearheaded the MedTech company since its inception in 2005, will leave after guiding the business through significant milestones, […]<\/p>\n","protected":false},"author":1,"featured_media":1688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,30],"tags":[214],"class_list":["post-1687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jobs","category-tech","tag-oxford"],"yoast_head":"\n