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Hydrodec Chief Executive Officer Steps Down, Leadership Shaken Up

Wed, 04th Apr 2018 11:26

LONDON (Alliance News) - Oil re-refining group Hydrodec Group PLC said on Wednesday that Chief Executive Officer Chris Ellis has resigned with immediate effect due to the illness of a close family member, after two and a half years in the role.

As a result, Chairman Colin Moynihan will take up the role of executive chairman and interim chief executive officer, while the board mulls over the composition of the senior executive team.

In addition, David Dinwoodie has been appointed to the board with immediate effect as interim chief financial officer.

Also, Hydrodec has secured an additional working capital facility of GBP500,000 from Non-Executive Director Andrew Black, which is due for repayment at the end of 2018 and does not bear any interest.

Hydrodec will provide a trading update for the first quarter of its year at the end of April.

Shares in Hydrodec Group were down 1.6% at 1.50 pence on Wednesday.

More News
8 Sep 2016 14:54

Hydrodec becomes first re-refining oil producer to receive carbon credits

(ShareCast News) - Hydrodec, a specialist re-refiner of industrial oils, has received approval from the American Carbon Registry (ACR) to receive carbon credits for its oil. Typically, carbon credits permits assigned to a firm allow it to produce a certain amount of emissions which can then be trade

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18 Aug 2016 16:44

Hydrodec Group clinches transformative five-year contract with Essential Energy

(ShareCast News) - Hydrodec's Australian unit clinched a five-year exclusive contract to supply a major utility group Down Under with new inhibted transformer and switchgear oil. The start date for the contract with Essential Energy was September 2016. Under the terms agreed Hydrodex would collect

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20 Jul 2016 15:28

Hydrodec make a comeback in first half

(ShareCast News) - Hydrodec Group, a company which re-refines waste oil have announced record sales numbers for the first half of 2016, following on from their reported loss last year. The main drivers have been the firm's refocusing on core transformer oil re-refining technology by optimising the p

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20 Jul 2016 08:36

Hydrodec First-Half Revenue To Grow Strongly On "Significant" Progress

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24 Jun 2016 16:14

DIRECTOR DEALINGS: Hydrodec Non-Executive Buys First Shares

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10 Jun 2016 14:11

Directors dealings: NAIT boosts stake in EKF Diagnostics to 14.1%

(ShareCast News) - Harwood Capital, acting as investment manager on behalf of North Atlantic Smaller Companies Investment Trust PLC, picked up another large batch of shares in EKF Diagnostics. Christoper Mills, who was named to the post of non-executive chairman at the global point-of-care medical d

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10 Jun 2016 12:05

DIRECTOR DEALINGS: HydroDec Group CEO Buys Shares

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9 Jun 2016 17:10

DIRECTOR DEALINGS: Hydrodec Directors Add To Holdings

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7 Jun 2016 09:07

HydroDec Reports "Significant Progress" On Second Stage Of Plan

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6 Jun 2016 15:03

UK Shareholder Meetings Calendar - Next 7 Days

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12 Apr 2016 12:00

Low oil prices see HydroDec swing to a loss

(ShareCast News) - Clean-tech industrial oil re-refiner HydroDec swung to a loss in the 2015 calendar year, reporting tough trading in a low oil price environment on Tuesday. The AIM-traded company reported total income as decreasing to $43.8m, from $54.7m in 2014. HydroDec's total sales volumes in

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12 Apr 2016 09:47

HydroDec Loss Balloons Amid Low Oil Price and Canton Refinery Issues

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10 Mar 2016 13:47

Hydrodec achieves new production record and aims for more

(ShareCast News) - Hydrodec Group said its plant at Canton, Ohio, which re-refines waste transformer oil into a reusable product via its low emission process, has hit a monthly production record of 2.45m litres in February. The AIM-listed company said the Canton plant also achieved a record daily sh

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10 Mar 2016 10:31

Hydrodec Says Canton Refinery Hit Production Record In February

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7 Mar 2016 10:40

WINNERS & LOSERS SUMMARY: Break Up Speculation Lifts Old Mutual

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