Alphawave IP Group finance chief announces he will step down

Alphawave IP Group shares slumped sharply after its finance director announced his intention to step down.

According to the semiconductor intellectual property company, Daniel Aharoni, would step down from his post after the publication of the company's full-year results which were expected by 12 May at the latest.

Christian Bowsher, Alphawave Semi's senior director of finance, would take over the finance role while the company searched for a replacement.

He would be helped in his new duties by Raj Mahadevan, a co-founder and senior vice-president of operations.

Mahadevan had managed the finance function between 2017-21.

As of 1028 BST, shares of Alphawave IP group were falling by 14.93% to 101.40p.