(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:
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Sterling Energy PLC - oil and gas company with exploration asset in Somaliland - Hires Paul McDade as chief executive officer and Ian Cloke as chief operating officer, starting immediately. McDade is the former CEO of FTSE 250-listed producer Tullow Oil PLC, and Cloke is Tullow's former executive vice president. McDade left at the end of 2019 "by mutual agreement following disappointing business performance", Tullow said at the time. At Tullow, he was replaced by Rahul Dhir, who joined from Delonex Energy Ltd, where he had been the Africa-focused firm's founder and CEO. At Sterling Energy, McDade is replacing Tony Hawkins, who was appointed only in December. Hawkins previously had been CEO of Columbus Energy Resources PLC, an AIM-listed oil & gas company operating in Trinidad and Suriname that was bought by Bahamas Petroleum Co PLC back in August. Hawkins will step down from the Sterling board immediately and depart the company "after a suitable transition period", Sterling says.
The change at the top of Sterling Energy follows a change in significant shareholders in February. Waterford Finance & Investment Ltd - a vehicle of Non-Executive Chair Michael Kroupeev - and Mistyvale Ltd sold their entire shareholdings in the company, a 45% stake in total. "I would like to welcome Paul and Ian to the board, and I look forward to working with them to transition to a new board of directors," Kroupeev says."This is an exciting time for the company as it looks to move forward with a refreshed strategy for the business. I would like to thank Tony for his help with the transition between shareholder groups and we wish him all the very best with his future endeavours."
Sterling shares closed up 7.1% in London on Tuesday and are up 94% in the year so far.
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Fletcher King PLC - London-based chartered surveyors and fund managers - David Fletcher moves from executive chair to non-executive chairman, while Richard Goode moves from executive director to non-executive director, both from May 1. Company says the shifts are a continuation of its "move to the next generation" following the promotion of Paul Andrews to managing director last May and of Peter Bailey to finance director in November 2019.
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Homeserve PLC - Walsall, England-based home repairs and improvements business - Hires Roisin Donnelly as independent non-executive director, starting on Thursday next week. Donnelly was on the board of Just Eat PLC before it merged with Takeaway.com NV and brings 30-years marketing experience with US consumers goods firm Procter & Gamble Co, Homeserve says.
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Cranswick PLC - Yorkshire-based meat producer - Hires Liz Barber as an independent non-executive director, starting May 1. Barber is CEO of Kelda Group, the holding company of Yorkshire Water. Previously, she was a partner at accountants Ernst & Young.
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Windar Photonics PLC - London-based developer of wind sensors for electricity generating wind turbines - Hires Paul Hodges as non-executive director, effective immediately. Hodges was a founding shareholder of Cenkos Securities PLC. Meanwhile, Soeren Hoeffer steps down as non-executive director, having served for three years.
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By Tom Waite; thomaslwaite@alliancenews.com
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