EXECUTIVE CHANGES: Norcros chair out; new Pennpetro, AFC Energy chairs

(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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Norcros PLC - Cheshire, England-based kitchen and bathroom products supplier - Chair Mark Allen steps down from the board effective Thursday. Senior Independent Director David McKeith becomes acting board chair until Norcros appoints a new non-executive chair. "It is with a great deal of sadness that I have tendered my resignation from the board of Norcros. Unfortunately, my other business commitments do not allow me sufficient time to devote to the company," says Allen. Norcros also on Thursday said it made a strong finish to its financial year that ended March 31, with underlying operating profit ahead of previous guidance.

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Pennpetro Energy PLC - oil and gas company focused on the Gonzales oil field in the US state of Texas - Appoints Andy Clifford as president of its subsidiary Nobel Petroleum USA Inc, which runs the company's petroleum activities in Texas. Clifford has worked for ExxonMobil Corp, Kuwait Foreign Petroleum, BHP Group PLC and others. Following Clifford's appointment, Non-Executive Chair Keith Edelman steps down from the board but remains a consultant. Olaf Rapp becomes non-executive chair effective immediately. Pennpetro confirms it will release its 2020 results by the end of June.

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AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Appoints Gary Bullard as non-executive chair with immediate effect. Bullard is currently chair of Gooch & Housego PLC and non-executive director of Spirent Communications PLC. He succeeds John Rennocks, who retired on Wednesday after four years as chair. "Our key priority is to put in place the required distribution channels, manufacturing and staffing to drive our commercial sales with significant annuity revenue and Gary's commercial acumen will be invaluable during this phase of the company's development," says Chief Executive Adam Bond.

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Lekoil Ltd - oil & gas exploration and production in Nigeria - Independent Non-Executive Director George Maxwell resigns in order to focus on his new role as chief executive of Vaalco Energy Inc. Maxwell says he is willing to remain on the board until April 30 to ensure an "orderly transition".

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McKay Securities PLC - South East and London-focused office property investor - Appoints Helen Sachdev as non-executive director effective immediately. Sachdev is currently chair of the Loughborough Building Society and non-executive director of Wilmington PLC. "She has considerable experience gained from a range of sectors, including real estate, and has also been involved in significant business transformation and change. Her knowledge and experience will be very helpful as we all emerge from the current pandemic," says Chair Richard Grainger.

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By Zoe Wickens; zoewickens@alliancenews.com

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