7th Nov 2022 14:33
(Alliance News) - Carclo PLC on Monday re-appointed Joe Oatley as non-executive chair, as Nick Sanders steps down immediately for "personal reasons".
Previously, Carclo said that Sanders would stay with the West Yorkshire-based plastic parts manufacturer until December 31 before stepping down. Sanders has been non-executive chair since 2020.
In his place, Carclo has appointed Joe Oatley as its new non-executive chair.
Oatley previously held this role with Carclo from April to September 2020. He joined the company as a non-executive director in 2018.
The company also said Eric Hutchinson, a non-executive director & chair of the Audit Committee, was appointed as senior independent director and chair of the Remuneration Committee.
It added that the search for a new non-executive director is now underway.
Oatley said: "I would like to thank Nick for his effort and commitment leading Carclo through what has been a challenging period over the last two years and I wish him well for the future. I am looking forward to leading the board and working with the management team to deliver value to all of our stakeholders."
Shares in Carclo were down 1.7% to 15.75 pence each in London on Monday afternoon.
By Sophie Rose; [email protected]
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