New chairman for Nanoco

PETER Rowley has stepped down as non-executive chairman of Nanoco, the Manchester-based nanotechnology business, after seven years in the role.

He has been replaced by existing non-executive director Anthony Clinch who joined the business in 2010.

In a stock market statement the group said Mr Rowley would remain on the board as a non-executive director.

Chief executive Michael Edelman said: “I would like to thank Peter for his enormous contribution to the development of Nanoco during his seven years as chairman. I am delighted that we will continue to benefit from his counsel as a non-executive director.”

Nanoco makes quantum dots – tiny fluorescent particles of semiconductor material which have the ability to emit light. They are in demand by the makers of electronic goods because they consume less power than existing systems. The business has a market value of £340m.