AI Drug Hunter Firm Exscientia Fires Its CEO Over 'Inappropriate' Relationships with Two Employees
Portfolio Pulse from Vandana Singh
Exscientia Plc (NASDAQ:EXAI) terminated CEO Andrew Hopkins due to inappropriate relationships with employees. Chief Science Officer Dave Hallett steps in as interim CEO. Chairman David Nicholson resigned after it was revealed he knew of Hopkins' conduct. EXAI shares dropped 19.80% to $6.02.
February 13, 2024 | 7:17 pm
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Exscientia Plc fired its CEO for inappropriate conduct, appointed an interim CEO, and saw its Chairman resign. Shares plummeted 19.80%.
The firing of the CEO and the resignation of the Chairman due to misconduct issues are significant events that can lead to uncertainty and loss of investor confidence, contributing to the sharp decline in EXAI's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100