EXECUTIVE CHANGES: TP Group CEO out as Science Group tightens grip

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Monday and late last week and not separately reported by Alliance News:

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TP Group PLC - Wincanton, England-based consulting, software and engineering company - David Lindsay resigns as chief executive officer "following the recent board changes and the adoption of a new strategy for the business". Lindsay has a 12-month notice period but is expected to depart in March next year. Lindsay's planned exit follows the immediate resignation on Friday of Philip Holland. Science Group PLC, a 27% shareholder of TP, on Tuesday last week had requisitioned a general meeting to remove Holland, who had stepped up to chair in late September to replace Andrew McCree. Lindsay himself has been CEO only since July. Earlier this month, Martyn Ratcliffe and Peter Bertram joined the TP board to represent Science Group, which in August had failed in a hostile takeover offer for TP. Ratcliffe, who is chair of Science Group, now will become executive chair of TP until a new CEO is appointed. His services will be charged to TP by Science Group. Derren Stroud will continue as chief financial officer, and the company will look for two new independent non-executive directors.

TP says it now will focus on its UK-based Defence and Aerospace operations - TPG Maritime, UK Consultancy and Osprey - while the board will review the strategy of the Sapienza, Westek and the Northstar operations. TP say trading has been "satisfactory" in the third quarter of 2021, and the full year remains "broadly in line" with market expectations. "The future direction of TP Group has now been resolved," the company says. "Following recent events, the board can now focus on implementing the strategy associated with the investment by Science Group. The opportunities for collaboration and cooperation between the two organisations will be explored in due course."

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Severn Trent PLC - Coventry-based water utility - Hires Gillian Sheldon and Tom Delay as non-executive directors of the parent company and of Severn Trent Water Ltd. Sheldon, who starts immediately, is a senior advisor in the Investment Banking division of Credit Suisse AG. Until this past February, she was senior independent director of outsourcer Capital PLC. Delay starts on January 1. He is an engineer who worked for 16 years with Royal Dutch Shell PLC and later was principal with the Global Energy Practice of management consultants AT Kearney. He was the first chief executive of the Carbon Trust, which advises businesses and governments on carbon emissions reduction. Meanwhile, Angela Strank will step down as independent non-executive director in March of next year, after serving eight years on the board.

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InterContinental Hotels Group PLC - Buckinghamshire-based hotel operator - Senior Independent Director Dale Morrison will retire from the board on December 31, having served since 2011. Graham Allan is promoted to senior independent director from January 1. Allan joined the board in last year. He was chief executive of Hong Kong-based grocer Dairy Farming International Holdings Ltd, part of Jardine Matheson Holdings Ltd.

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Synthomer PLC - Essex-based chemicals - Confirms Michael Willome starts Monday as CEO, succeeding Calum MacLean, who steps down from the board immediately but will help with the transition until the end of the year.

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Redx Pharma PLC - Macclesfield, England-based discovery of treatments for cancer and fibrotic disease - Hires Jane Griffiths as non-executive chair, replacing Iain Ross, who stepped down back in June. Griffiths, who starts on December 1, was a long-time executive with US pharmaceutical firm Johnson & Johnson, including as head of Actelion following the Swiss firm's acquisition by J&J back in 2017. Griffiths is a non-executive director of chemicals firm Johnson Matthey PLC and of defence contractor BAE Systems PLC.

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Westminster Group PLC - Banbury, Oxfordshire-based security and services contractor - Hires Graham Binns as non-executive director, starting Monday. Binns is a retired British Army major general. He commanded the 7th Armoured Brigade, known as the 'Desert Rats', during Operation Telic 1 when the brigade took Basra in southern Iraq. After retiring from the military, Binns was CEO of Aegis Defence Services Ltd, which provides security services to governments and corporations in the Middle East and Africa. After Aegis was bought by GardaWorld Security Corp, Binns was senior managing director of GardaWorld International Protective Services. Meanwhile, Patsy Baker steps down as non-executive director of Westminster Group from Monday.

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PetroNeft Resources PLC - part-owner and operator of two licences in the west Siberian oil basin - Hires Eskil Jersing as independent non-executive director, starting immediately. Jersing was CEO of AIM-listings Wentworth Resources PLC and Sterling Energy PLC. Sterling is now known as Afentra PLC.

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GCM Resources PLC - Phulbari coal and power project in north-west Bangladesh - James Hobson resigns as non-executive director from December 1 to take on a full-time appointment. Hobson had rejoined the board in January, having served as a GCM executive for 13 years. GCM says it is in the process of appointing a new independent non-executive director.

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Woodbois Ltd - Africa-focused forestry, timber trading, reforestation and carbon credits - Hires David Rothschild as independent non-executive director, effective immediately. Notes Rothschild has been a manager and advisor in the African resource and agricultural sectors for the past 20 years.

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Norman Broadbent PLC - London-based recruitment firm - Hires Sean Buchan as managing director, reporting to CEO Kevin Davidson. Buchan will be responsible for operational leadership. He has 20 years experience in executive search in the UK and internationally, Norman Broadbent notes.

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ECR Minerals PLC - gold explorer with assets in Australia, Argentina and Philippines - Says CEO Craig Brown died unexpectedly at the weekend. "At this time it is intended that a committee of current directors David Tang, Trevor Davenport and Adam Jones will continue to run the company and ensure that the drilling programs already outlined to the market continue on timetable," ECR says.

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Dalata Hotel Group PLC - Dublin-based hotel operator in Ireland and UK - Hires Cathriona Hallahan as independent non-executive director, starting Monday. She recently retired as managing director of Microsoft Ireland, after 35 years with the Microsoft Corp subsidiary. Meanwhile, Robert Dix will retire as director at the 2022 annual general meeting, having served since 2014. Carol Phelan, who was appointed CFO back in July, will join the board as executive director on January 1.

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By Tom Waite; thomaslwaite@alliancenews.com

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