Autonomy founder Mike Lynch steps down from Blinkx board

 
Oliver Smith
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A year after HP ac quired Lynch’s Autonomy for $11bn, it wrote down its value by $8.8bn
AUTONOMY founder Mike Lynch, who is currently embroiled in a legal tussle with US tech giant HP over allegations of fraud surrounding its $11bn (£7.3bn) takeover of his firm, yesterday stood down from the board of Blinkx, the online video company spun off from Autonomy.

Lynch will step down on 31 December, but has agreed to join the group’s advisory board.

“Mike has been on the Blinkx board since its inception, and was instrumental to the company’s genesis and evolution. All of us at Blinkx owe Mike a debt of gratitude for his untiring support of the company over the years,” said chairman Anthony Bettencourt

“We are fortunate to continue to have access to him and his counsel in his role as a member of the advisory board.”

Blinkx also announced Stanford Business School finance chief Raj Chellaraj would join the board as an independent non-executive director. Chellaraj previously worked in US government as assistant secretary of state under the Bush administration.

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