Matt Cooper has been appointed as interim executive chairman pending the appointment of a full time CEO.

Turrell will continue to provide advice and support to the company from time to time.

Cooper said: "Mark co-founded Imaginatik and established the market in collaborative innovation and collective intelligence.

"We value his significant contribution and vision over the years.

"We look forward to continuing to benefit from his input and support in the months and years ahead, and we wish him well in his future activities.

"My immediate focus will be on creating a robust senior management team and in helping to drive the company's sales efforts."

Turrell said, "Imaginatik has been and continues to be an extremely important part of my life and I am proud to have co-founded it and taken it public.

"It is now time to pass the reins on to another, who can take the Company to the next level.

"I look forward to being able to contribute to that in the future and to contributing to the wider debate on innovation and collective intelligence worldwide."