Chemical manufacturing firm in Glasgow raises board size

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A board restructuring has been announced by Glasgow-based DeepMatter as the chemical technology specialist seeks expansion in international markets.

As chief executive officer, the company has hired Karen Bach, a veteran of the technology industry.

A new chief financial officer has also been recruited by DeepMatter to succeed Lauren Lees, who quit the board yesterday.

After working for businesses in sectors ranging from software development to hospitality, Fraser Benson has taken on the CFO role.

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The new hires will bring valuable skills and expertise as the company looks to grow and reach new territories, DeepMatter chief executive Mark Warne said.

After developing products that it believes will speed up the drug production process, the Aim-listed digital chemistry specialist sees strong growth prospects.

These include DigitalGlassware, which enables chemists to record vast quantities of experiment information and share it online.

In the midst of concerns about the potential for coronavirus to spread in workplaces, the company says this may enable chemists to work in a socially distant climate.

“Karen Bach brings significant public and private technology expertise, particularly focused on helping young technology companies realize their growth potential.” DeepMatter said.

Ms. Bach serves on the boards of a variety of technology firms, including Amino Communications and Datapharm, a video streaming specialist that publishes drug information.

For other businesses, such as logistics software developer Kewill, she has worked in senior finance positions.

READ MORE: The spin-out of the University of Glasgow celebrates the standard of workers available in the region.

DeepMatter noted that Ms. Bach is a member of the 30 percent Group, which helps boards select more female directors and raise the pipeline at board and senior management levels of emerging female talent.

She has decided to subscribe at a price of 2.5p per share for 500,000 new ordinary shares in the company.

Mr. Benson spent eight years with trading software company Tradeweb, most recently as finance director for Europe and Asia.

Prior to that, he worked for Whitbread and cxLoyalty.

DeepMatter said of Ms. Lees, “Having guided the company through to commercialization, the board thanks Lauren for her contribution to DeepMatter and wishes her well in the future.”

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