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Hydrodec Chair Moynihan Departs, CEO Ellis Becomes Interim Chair

Fri, 06th Dec 2019 13:30

(Alliance News) - Hydrodec Group PLC on Friday said Colin Moynihan has resigned as chair with immediate effect.

The oil re-refiner said that Chief Executive Chris Ellis will assume the role of interim executive chair effective immediately until a replacement is appointed.

Ellis said: "I would like to thank Colin personally and on behalf of the company for all the energy, wise counsel and stewardship he has provided during the years of his chairmanship. I look forward to continuing the progress he has made over the last twelve months in strengthening Hydrodec's relationships with leading US utilities to provide the platform for growth in 2020 which is the cornerstone of our turnaround strategy."

Shares in London-based Hydrodec were down 4.2% at 11.50 pence on Friday in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

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