NetScientific announced that Farad Azima has been removed from the positions of Chief Executive Officer and a Director of NetScientific with immediate effect. The Board has appointed Sir Richard Sykes, Chair of the Board, as Executive Chairman, until a new CEO is appointed. This process will begin with immediate effect and a further announcement will be made in due course.

Sir Richard has a vast range of experience in managing companies, having previously been Chairman and Chief Executive of GSK.