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(Alliance News) - Windar Photonics PLC on Friday said Chair Johan Blach Petersen stepped down with immediate effect, although he will continue to serve as a non-executive director.
Windar is a London-based technology group, which has developed a cost-efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines.
Windar said it appointed WildLife Group Ltd Chair David George Lis as successor with immediate effect. He is also currently senior independent director at Melrose Industries PLC and Hostmore PLC and a non-executive director at Dowgate Capital Ltd.
"First of all I would like to thank Johan for serving as chairman of the board of directors during the past almost six years, and I am looking forward to his continued membership of the board of directors going forward," said Chief Executive Officer Jorgen Korsgaard Jensen.
"I am further delighted that David has accepted to join the board of directors as chairman. David, with his experience and personality, is a perfect match for assisting and guiding the company on our future growth path, and I am pleased that David has such belief in the company that he has opted to take all his salary in shares in the company."
Petersen sold 500,000 Windar shares on Thursday at a price of 35 pence per share for an aggregate GBP175,000, alongside Non-Executive Director Paul Hodges buying 225,000 shares at 36p each for an aggregate GBP81,000.
Shares in Windar were up 7.4% to 40.80 pence each in London on Friday morning.
By Greg Rosenvinge, Alliance News reporter
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