9th Jan 2015 08:49
LONDON (Alliance News) - Eleco PLC on Friday said Executive Director Michael McCullen has resigned from the company's board.
McCullen has also stepped down from his role as managing director of Eleco's Asta Development subsidiary and will be replaced by Jason Ruddle. McCullen is a co-founder of Asta Development, which Eleco acquired in 2007.
McCullen is stepping down to "pursue new interests", Eleco said, but Chairman John Ketteley said he will retain a consultancy role with the company.
Eleco shares were untraded on Friday morning, having last traded at 19.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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