Oxford Nanopore Technologies co-founder Gordon Sanghera (pictured) will step down as chief executive after more than 20 years at the company’s helm.
Announced on Monday, Sanghera said he will be moving on as CEO by the end of 2026.
The DNA and RNA sequencing pioneer listed on the London Stock Exchange with high expectations in 2021, a year that saw a strong cohort of technology companies go public in the UK markets.
The firm reached its peak share price of £7.10 in December 2021, just three months after its listing. Since then its stock has tumbled by more than 70%.
Oxford Nanopore has, however, seen a slight uplift in share value since the start of the year, with its stock up 69% from this time in 2024, currently valued at just over £2.
Sanghera said he is leaving the firm with “strong foundations” for future success down the road.
“With strong foundations in place for the Company’s 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,” Sanghera said.
“Until then, I remain resolutely focused on executing our strategic priorities, continuing our strong performance, and driving the business to profitability.”
The 64-year-old co-launched the company in 2005 as a spinout from the University of Oxford.
“On behalf of the board, I want to thank Gordon for his visionary leadership and unwavering commitment to Oxford Nanopore,” said Duncan Tatton-Brown, chair of the board.
“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.”
Last week, Oxford Nanopore announced it was launching legal action against MGI Australia for infringing on four patents held by the company.
Register for Free
Bookmark your favorite posts, get daily updates, and enjoy an ad-reduced experience.
Already have an account? Log in
