LONDON - IntelliAM AI Plc (AQSE: INT), a software company specializing in artificial intelligence (AI) and machine learning applications for the manufacturing sector, today disclosed that David Richards MBE, its co-founder and non-executive Chairman, will step down from his role on July 3, 2025. The announcement follows the company's structured post-initial public offering (IPO) succession plan.
Richards, who has played a pivotal role in IntelliAM's journey to becoming a publicly listed company, will continue to serve as Chairman for the next six months, ensuring a smooth leadership handover. His departure is in line with a pre-determined strategy set after IntelliAM's successful IPO, which anticipated a 12-month tenure for Richards as Chairman.
The company has begun a formal process to find a successor and is confident that this will facilitate a seamless transition. During this period, Richards will remain involved to support the new leadership and maintain continuity.
In a statement, Richards expressed pride in IntelliAM's achievements and reaffirmed his commitment to the company's vision and leadership team. He also indicated his intention to focus on his role at Yorkshire AI Labs, which holds a 20% stake in IntelliAM AI.
The Board acknowledged Richards' significant contributions, especially during the IPO phase, and will provide updates on the appointment of a new Chairman at the appropriate time. This planned change in leadership is based on a press release statement from IntelliAM AI.
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