Tuesday, Exscientia Plc EXAI terminated CEO Andrew Hopkins immediately due to engaging in two inappropriate personal relationships with employees.
Exscientia is an AI-driven precision medicine company specializing in rapidly discovering and developing potential drugs.
The company has developed a precision oncology platform for improving patient outcomes and advancing AI-designed small molecules into clinical settings.
The board has commenced a search for a new CEO following Hopkins’ termination.
Dave Hallett, the Chief Science Officer, is appointed as the interim CEO and principal executive officer until the selection of a new CEO.
A special board committee is investigating Dr. Hopkins’ conduct.
During the investigation, it was discovered that David Nicholson, Chairman of the Board, had prior knowledge of Hopkins’ relationships and subsequently resigned from his positions.
The Nominating and Corporate Governance Committee of the Board is initiating a search for Nicholson’s replacement.
Price Action: EXAI shares are down 19.80% at $6.02 on the last check Tuesday.
