LONDON (Alliance News) - Velocity Composites PLC on Monday said that Chair Mark Mills has resigned from the board with immediate effect.
The company will appoint independent consultants to assist in the process to identify a new chair who can represent the views of all shareholders.
In the meantime, Brian Tenner has been formally appointed as senior independent director to ensure that all shareholders have a contact point with the board.
Furthermore, Interim Chief Financial Officer Andrew Hebb, who joined in November 2018, has agreed to continue in his role.
While, Chief Technology Officer Jonathan Bridges, will be appointed interim chief executive officer whilst the search for a permanent CEO continues.
Velocity Composites shares were untraded on Monday, last quoted at 19.55 pence each.
Velocity Comp (VEL)