Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion firm - Non-Executive Chair Tony Gardner-Hillman says he intends to resign, agreeing to remain in position until December 15, when David Hitchcock will become temporary successor. Gardner-Hillman will also support acting Chief Executive Officer Paul Emmitt. Says the announcement of a permanent successor to Gardner-Hillman as chair will be made in "due course".
Outgoing Chair Gardner-Hillman says: "Through my tenure I have worked to help the business identify and protect against the challenges it shares with many early-stage businesses and become more robust. I hope I have made a positive mark. However, I have now decided that I need to relinquish my position and I wish the company and the team every success in the future."
Acting CEO Emmitt adds: "Tony has had a significant beneficial influence on the business in the short time he has been with the company, and I am grateful for the support and guidance he has given to me and to the board."
Current stock price: 0.33 pence, up 3.1%
12-month change: down 78%
By Greg Rosenvinge, Alliance News senior reporter
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Powerhouse Ener (PHE)