Andrew Heath, a non-executive director who used to run chemical group Alent until its £1.35 billion takeover last year, has become interim chief executive as Imagination looks for a successor to Yassaie.
Speculation immediately focused on Vin Murria, the technology entrepreneur who ran Advanced Computer Software until it was bought for £725 million in 2014. Her finance director there, Guy Millward, became finance director of Imagination in December.
Imagination said it would cut costs by £15 million for the year to this April but expects a “material reduction in [annual] revenues” along with lower royalty fees.
