Velocys plc has suspended its Chief Executive Officer, Roy Lipski, pending an investigation into allegations of serious misconduct. Velocys' Chief Financial Officer, Susan Robertson, will act as Chief Executive Officer during the suspension of Mr. Lipski.
Mr. Lipski's suspension does not constitute disciplinary action and does not imply any assumption whatsoever that he is guilty of any misconduct. The Board will keep his suspension under review and will aim to make the period of suspension no longer than is reasonably necessary. The allegations do not involve any element of fraud or financial impropriety.
The Board is pleased to confirm that trading is in line with expectations.