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EXECUTIVE CHANGES: Persimmon finance boss retires; Block fights Forest

Mon, 26th Jul 2021 16:23

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Monday and not separately reported by Alliance News:

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Persimmon PLC - York, England-based housebuilder - Finance Director Mike Killoran will retire in early 2022 after 25 years with the company. Persimmon says Killoran will step down in mid-January following the trading update for 2021. Killoran joined Persimmon in 1996 and was promoted to the board as finance director in 1999. Chair Roger Devlin says the company now will start the process to find a successor.

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Dignity PLC - West Midlands, England-based funeral services - Hires John Castagno as independent non-executive chair, starting this past Friday. Castagno is an independent non-executive director of Post Office Insurance and a member of the Chartered Insurance Institute. As a result of Castagno's appointment, Chief Executive Officer Gary Channon will stand down from the additional role of executive chair. Dignity also notes that Dean Moore will remain a director.

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Mobile Streams PLC - London-based mobile content and data intelligence - Hires Bob Moore as non-executive chair and Rama Uthayanan as finance director, both immediately. Moore replaces Charles Goodfellow as chair, and Goodfellow will revert to non-executive director. Moore is a lawyer who was co-founder & commercial director of former AIM-listing Granby Oil & Gas. Uthayanan is an accountant who was finance director of People's Operator PLC, before its delisting from AIM in 2019. He has been finance director at Krunchdata Ltd, a 49% subsidiary of Mobile Streams since December 2018.

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4D Pharma PLC - Leeds-based live biotherapeutic products developer - Chief Financial Officer John Beck dies. 4D says succession planning is underway.

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Block Energy PLC - oil and gas production and development in Georgia - Calls general meeting for August 11 to consider resolution from 5.0% shareholder Forest Nominees to remove Chair Philip Dimmock from the board and replace him as chair with Chuck Valceschini, a current non-executive director. In its letter earlier this month, Forest, a nominee of GP (Jersey) Ltd, didn't provide a reason for the change. Following this, Forest sends a second letter, received by Block Energy on Saturday, requesting an additional general meeting to consider commissioning an independent forensic investigation into the affairs of the company. "The board of directors regrets that this action has been taken at a time when the company is in the middle of drilling a well pursuant to a shareholder-mandated strategy and considers the requisition of this second general meeting to be unwelcome and unnecessary," Block Energy says. On Friday, Dato Sandroshvili resigned immediately an independent non-executive director, while earlier this month Chris Brown resigned as independent non-executive director but will serve his notice period to October 2.

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Aveva Group PLC - Cambridge, England -based industrial software - Hilary Maxson will replace Peter Herweck as non-executive director on August 1. Maxson will represent 60%-owner Schneider Electric SE, where she is CFO. Back in May, Herweck was seconded to Aveva from Schneider to be Aveva's CEO.

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Kingswood Holdings Ltd - London-based wealth and investment management - Buzz West retires as chair and non-executive director, effective immediately, though he will remain for six months as a consultant. West has been on the board for seven years, five of those as chair. Kingswood promotes David Hudd to acting chair while a search is made for a new chair. Hudd has been on the board since 2018. Meanwhile, Patrick Goulding will leave as CFO, having served Kingswood for two years. Hires Jon Millam as new CFO, starting August 1. Millam currently is finance director, FP&A, at Equiniti Group PLC.

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Prospex Energy PLC - investor in onshore and shallow offshore European gas and power projects - Hires Mark Routh as CEO and director. Managing Director Edward Dawson will step down from Prospex board immediately but remain an employee for a transfer period. Routh was chair & CEO for eight years of AIM-listing IOG PLC, which recently changed its name from Independent Oil & Gas.

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Velocys PLC - Oxford, England-based sustainable fuels technology - Hires Ann Markey and Tom Quigley as independent non-executive directors. Markey is an accountant who is a non-executive director of the Sustainable Energy Authority of Ireland and of London-listed Foresight Solar Fund Ltd. Quigley also is an accountant and is a non-executive director of AIM-listed waste gasification firm Eqtec PLC. As an executive, he held corporate finance roles with Close Brothers Group PLC and others.

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Iomart Group PLC - Glasgow-based cloud computing - Hires Andrew Taylor as non-executive director, starting August 1. Taylor is CEO of AIM-listed Gamma Communications PLC.

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Red Rock Resources PLC - gold explorer in Kenya and Australia, copper-cobalt in Democratic Republic of the Congo - Hires Alex Borrelli as independent non-executive director, starting immediately. Borrelli is an accountant who worked in corporate finance as an executive. He now is a director of AIM-listings Greatland Gold PLC, Xpediator PLC, Tiger Royalties & Investments PLC and Bradda Head Holdings Ltd.

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Trident Royalties PLC - mining royalty and streaming - Hires Peter Bacchus as non-executive director, while James Kelly steps down as non-executive director "to pursue other business interests", both effective immediately. Bacchus is chair & chief executive of Bacchus Capital, an investment banking boutique focused on natural resources sector. He previously had been global head of Mining & Metals at Morgan Stanley and European head of Investment Banking at Jefferies Financial Group Inc.

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Jersey Electricity PLC - electricity supplier in Jersey - Peter Simon will resign from board on August 31. A search for a new non-executive director will begin soon.

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By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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