Cell AI, a London-headquartered company that was once backed by football legend David Beckham has seen its finance chief and a non-executive director resign, continuing a period of upheaval since its listing.
Finance chief Nicholas Lyth and non-executive director Matt Lodge both took part in a subscription for new shares in Cel AI Plc just last month, which raised £500,000 for the purpose of building a stock of Bitcoin, a trend seen in larger companies. The duo then subscribed for further shares at the beginning of June, raising another £250,000 for the company’s Bitcoin policy.
Despite this recent investment, Mr Lyth, who has extensive experience with quoted companies, has now quit the firm alongside Mr Lodge. The departure of the finance chief comes almost a year to the day after the previous CFO, Bruna Nikolla, also quit the firm. On the same day, executive director Timothy Le Druillenec, who had only joined the company a few weeks prior, also stepped down. In February 2025, Michael Edwards resigned as executive chairman, replaced by Olivia Edwards.
Originally known as Cellular Goods and focused on cannabinoid products, the company floated in 2021 to much fanfare. England and Manchester United legend Beckham subscribed for a 5% stake through his investment vehicle, DB Ventures.
Beckham would later sell his stake in the firm, while its CBD-infused food supplements were withdrawn from shop shelves due to regulatory issues. The company was also subject to advertising bans imposed by tech giants Facebook and Google.
A significant pivot saw the business rebrand as Cel AI amid the rise of generative AI, such as ChatGPT. The new focus is on providing tailored beauty advice and product recommendations through a chat interface, in addition to skincare and wellness products.
Cel AI has today moved to appoint Elliot Fielding as CFO with immediate effect. Mr Fielding is currently managing partner of Sampson Fielding, a firm of chartered accountants and business advisors, and was previously a director of AQSE-listed Flex Labs Inc.
Cel AI’s share price dropped below a penny in 2023 and currently stands at around 0.46p (9am).
Image source: Pixabay
