Nanoco Group plc, based in Runcorn, is a company known for developing and producing cadmium-free quantum dots along with other advanced nanomaterials. These materials have applications in a range of industries, including monitors, televisions, and infra-red sensors. The company gained significant attention last year when it secured a $150 million legal victory over Samsung. Recently, it was announced that their current CEO, Brian Tenner, would be stepping down, though he will remain with the company during a transitional period.
Dmitry Shashkov has now been appointed as the new CEO. Shashkov brings over two decades of experience in managing businesses, particularly within the electronics and biomedical sectors. His expertise extends to areas such as metals, semiconductors, flat panel displays, photovoltaic systems, LEDs, and medical devices. Prior to joining Nanoco, Shashkov served as the CEO of CPS Group of companies, which later became part of Exyte. During his time there, the company’s revenue tripled and profitability surged fourfold, leading to a successful sale to a strategic investor.
Chris Richards, Nanoco’s non-executive chairman, expressed confidence in Shashkov’s appointment. He highlighted Dmitry’s successful background in managing materials science-driven businesses and noted his ability to generate shareholder value through business transformation. Richards stated that the board is eager to collaborate with Shashkov to explore new commercial opportunities while evaluating potential strategic paths for the company. He also took the opportunity to commend Brian Tenner for his contributions, particularly in reaching a settlement with Samsung and securing Nanoco’s first major commercial order. Richards acknowledged the importance of Tenner’s continued involvement during the handover and in advising the board on future corporate options.
Shashkov, in response to his appointment, expressed enthusiasm about joining the team at Nanoco. He emphasised that the company’s technology and manufacturing capabilities were impressive, but what stood out most to him was the drive and energy displayed by Nanoco’s employees. He also praised the board’s commitment to enhancing shareholder value and its support for pursuing a new direction for the business. Shashkov conveyed his anticipation of working closely with both the team and the board to lead Nanoco into its next phase of growth.
Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials for use in displays, lighting, vertical farming, solar energy and bio-imaging.
