A former boss of Centrica, the owner of British Gas, is among the candidates being considered to chair IP Group, the early-stage science investor.
Sky News has learnt that Iain Conn, who spent a decade in senior roles at BP, is one of a small number of contenders to replace Sir Douglas Flint.
City sources said a decision was expected to be made by IP Group’s board about its next chairman before the end of the year.
Money latest: What interest rate hold means for you
Mr Conn left Centrica in 2020 after five years in the top job.
IP Group has backed companies including Hinge Health, which recently floated in New York, and London-listed Oxford Nanopore.
Last year, it benefited from a substantial payout for its stake in Featurespace following its £700m sale to Visa.
The London-listed company’s portfolio also includes stakes in companies such as First Light, a nuclear fusion specialist.
This week, it announced half-year results disclosing hat it referred to “funding delays and pricing pressure for Oxa and Artios”, in which it said the value of its holdings had declined by more than £35m.
IP Group’s shares were trading at around 53p on Thursday afternoon, giving the company a market capitalisation of almost exactly £500m.
A spokeswoman for IP Group declined to comment.
