LONDON (Alliance News) - Hargreaves Services PLC said Friday that David Morgan has decided to step down as chairman and will be succeeded by Roger McDowell.
Morgan, who has served as a director since 2012 and as chairman since 2015, will step down from the board following the company's results for the year ending May 31, slated to be released on August 1.
The logistics company has appointed McDowell as non-executive director with immediate effect. He will take on the chairman role upon the departure of Morgan.
McDowell is currently serving as non-executive chairman of Avingtrans PLC and is also on the boards of Augean PLC, Tribal Group PLC, Proteome Sciences PLC, Swallowfield PLC, ThinkSmart PLC and D4t4 Solutions PLC.
Hargreaves Services, which provides solid fuel supply and bulk material logistics, posted a pretax loss of GBP1.9 million in the six months to November 30, 2017, compared to a small profit of GBP173,000 in the same period the prior year. Revenue fell to GBP150.3 million from GBP170.9 million due to asset sales.
Shares in the company were untraded at 339.00 pence on Friday.