Renewable fibre developer Spinnova has announced the immediate departure of its chief executive, Kim Poulsen.

Mr Poulsen only joined Spinnova in August, taking over as chief executive from co-founder Janne Poranen, with Mr Poranen moving to the role of executive chairman.

In its announcement, Spinnova gave no reason for this change but said its search for a new, permanent chief executive would begin immediately.

In the interim, the company’s chief finance officer, Ben Selby, will be interim chief executive, starting from April 21.

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