29th Oct 2024 12:38
(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:
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IQE PLC - Cardiff-based supplier of compound semiconductor wafer products and advanced material solutions - Chief Executive Officer Americo Lemos leaves the company immediately, with no reason given by IQE for his departure. Mark Cubitt becomes executive chair. He joined the board earlier this month with the intention that he replace Phil Smith as chair, but not until next year. Instead, Smith moves immediately to non-executive director. Cubitt also is non-executive chair of Concurrent Technologies PLC and Beeks Financial Cloud Group PLC.
Chief Financial Officer Jutta Meier additionally becomes interim CEO, while IQE looks for a permanent CEO. Meier joined the company from Intel Corp back in January. Smith says Cubitt and Meier will "focus on executing on the near-term pipeline as well as cash generation across the group and on unlocking embedded value by pursuing the IPO of our Taiwan business. They will examine other efforts to optimise our asset base and ensure that resources are centred around IQE's strategic areas of expertise." Back in September, IQE said its pretax loss narrowed to GBP13.9 million in the six months that ended June 30 from GBP21.5 million a year previous, as revenue grew by 27% to GBP66.0 million from GBP52.0 million.
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James Cropper PLC - Kendal, Cumbria-based advanced materials and paper and packaging - Hires David Stirling as CEO, replacing Steve Adams, who will step down in early 2025 after seven years with the company. Stirling will join James Cropper in January and become CEO after a handover. Stirling was CEO of fellow London-listed materials firm Zotefoams PLC for 24 years before leaving in May.
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Jadestone Energy PLC - production and development assets in Australia, Malaysia, Indonesia, Thailand and Vietnam - Hires Andrew Fairclough as CFO and executive director, starting Tuesday. Fairclough replaces Bert-Jaap Dijkstra, who steps down immediately as CFO and from the board before departing the company early next month. Fairclough has nearly 30 years experience in corporate finance, including as CFO of AIM-listed Serinus Energy PLC from 2020 to 2023. He currently is a non-executive director of oil company Corcel PLC. He will relocate to Singapore for the Jadestone job.
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By Tom Waite, Alliance News editor
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