Chip designer Sondrel appoints CEO, plans delist from AIM
Sondrel Holdings plc, a chip design company that is being reorganized, has appointed John Chubb as CEO. The company has also asked shareholders to vote on a proposal to delist from the Alternative Investment Market (AIM) and return to being a private company.
Sondrel was supported with convertible loans by ROX Equity Partners Ltd., a UK-based private equity firm, after cash flow issues at the end of 2023. This has resulted in ROX taking a 49.2 percent stake in the company (see UK government approves sale of 49 percent stake in Sondrel).
Chubb comes in as CEO to take over from Graham Curren, Sondrel’s founder and long-time CEO.
Chubb has senior executive leadership experience in the nuclear, ICT, waste and energy sectors. He is a Chartered Engineer and a former Royal Naval Commander.
“Sondrel has built up an impressive reputation over the past two decades as one of the world’s leading design houses that specialises in bringing ultra-complex custom digital chips to market for its customers,” said Chubb, in a statement issued by Sondrel.
Curren, said: “We are delighted to have such a highly experienced CEO join Sondrel. His breadth of experience and track record of leading growth will be invaluable in forging a new exciting future for the company.”
Sondrel has sent a circular to shareholders convening a meeting on August 12 to consider delist from AIM. The meeting takes place at Sondrel’s headquarters in Theale near Reading. Under AIM rules the cancellation proposal must be approved by 75 percent of votes cast.
Related links and articles:
News articles:
UK government approves sale of 49 percent stake in Sondrel
Sondrel CEO steps down as chip firm faces re-organization
Sondrel heads to 3nm as it completes 5nm chip design
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