(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:
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PCF Group PLC - parent of PCF Bank Ltd, serving individuals and small businesses - Chair Tim Franklin will retire from the board no later than January 31. Marian Martin also resigns as director, effective immediately. PCF says it has completed a search process, and subject to regulatory approval, it will be appointing two new directors: a new chair and a senior independent director. PCF shares remain suspended from trading in London. Back in May, PCF had asked for trading of its shares on AIM to be suspended. PCF had said at the time this was to allow a "further review" of its "financial controls and reporting processes". In March, PCF had said a number of adjustments needed to be made to its results for the financial year that ended September 30 last year. At the same time in May, Scott Maybury resigned as chief executive, replaced by the chief operating officer, Garry Stran, who remains interim CEO. PCF on Thursday promises an update on the suspension and publication of its half-year results to March 31, 2021 "in due course".
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Celtic PLC - Glasgow football club - Confirms Michael Nicholson as chief executive, effective immediately. Nicholson had stepped up to acting CEO in September, after Dominic McKay resigned for personal reasons, having been in the job only two months. Nicholson had been director of Legal & Football Affairs. Celtic also on Thursday says Chris McKay has been promoted to CFO from finance director. "As a Celtic supporter all my life, I will do everything I can to drive the club forward, working at all times in the best interests of Celtic," Nicholson says, adding: "The current environment remains uncertain and everyone at the club recognises and sincerely appreciates the ongoing commitment of our supporters."
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Robert Walters PLC - London-based recruitment firm - Hires Matt Ashley as non-executive director, joining the board immediately. Ashley is chief financial officer of enterprise software firm Micro Focus International PLC, having joined from bookmaker William Hill at the end of June.
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ADM Energy PLC - London-based natural resources investing company - Calls general meeting for January 17, after receiving a letter from 5.3% shareholders Richard and Catherine Jennings last week requisitioning the meeting. The Jennings want the senior management removed, including CEO Osamede Okhomina, COO Richard Carter and Non-Executive Chair Oliver Andrews. They want Richard Jennings appointed as a director. The ADM Energy board recommends against all the resolutions, saying it has the backing of 33% of all shares. ADM says the letter from Jennings gave no reason for the resolution, but it assumes it has to do with a disputed debt facility agreement that it entered with Jennings back in June.
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Kavango Resources PLC - mineral explorer in Botswana - Michael Foster will retire as non-executive director on December 31. Foster was CEO of Kanvango when it listed in London in 2018, stepping down in favour of Ben Turner at the end of this past June.
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Jadestone Energy PLC - oil and gas assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Dan Young will step down as CFO to return to Australia "for personal family reasons". Young will remain in post as CFO and an executive director until at least the end of April, while a search for a replacement is made.
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By Tom Waite; thomaslwaite@alliancenews.com
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