(Alliance News) - Ventilation products supplier Volution Group PLC on Monday said outgoing Non-Executive Chair Peter Hill will be succeeded by Paul Hollingworth from the beginning of February.
Hollingworth, a current non-executive director, also will be appointed as chair of the Nomination committee with effect from the same date. He will remain a member of the Remuneration committee.
Hill will leave Volution two months early, on Friday next week, to concentrate on his new role of chair-designate at Petra Diamonds Ltd, the Jersey-based miner.
Volution had announced the departure of Hill and promotion of Hollingworth earlier in the month, but at the time said change would take place on March 31.
Senior Independent Director Tony Reading will become interim chair of the Audit committee with effect from February, serving until a permanent successor is recruited and appointed.
Volution shares were trading 4.5% lower in London on Monday at 235.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Volution Group PLS (FAN)