(Alliance News) - Quadrise Fuels International PLC on Friday said that Chief Operating Officer Mark Whittle has resigned from the board with immediate effect.
London-based Quadrise is a supplier of emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels.
Whittle has agreed to continue working with the company to ensure a managed handover, his contractual termination date is October 15 unless otherwise mutually agreed.
Executive Chair Mike Kirk and Chief Executive Jason Miles will continue to lead the management of the company. The company considers that its existing resourcing will enable the group to continue to advance its portfolio of project opportunities in line with their current schedules in the short term. It will, however, commence the search for a replacement imminently.
Shares in Quadrise ended up 21% at 3.98 pence each in London on Friday.
By Amrit Sahota; newsroom@alliancenews.com
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