20th Dec 2024 14:28
(Alliance News) - The following is a round-up of London-listed company director and manager changes on Friday and not separately reported by Alliance News:
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Judges Scientific PLC - London-based investor in scientific instrument sector - Promotes Non-Executive Director Ralph Elman to chair, starting January 1. Elman replaces Alexander Hambro, who will remain on the board until the annual general meeting in May. "Alex was one of our four founding directors when the company originally listed on the London Stock Exchange in 2003," says Chief Executive Officer David Cicurel. "Since then, his wisdom, understanding of the City and faith in our culture and business model have been essential in us significantly scaling the group from a GBP2 million initial investment to a market capitalisation of GBP580 million."
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Kenmare Resources PLC - operates Moma titanium minerals mine in Mozambique - Hires James McCullough to be chief financial officer, starting May 1. McCullough joins from FTSE 100 miner Rio Tinto PLC, where he has worked for 14 years, most recently as general manager for group strategy.
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Inspecs Group PLC - Bath, England-based designer, manufacturer and distributor of eyewear - Robin Totterman will step down as executive chair at the AGM in 2025, as the board "has decided to start a process of enhancing its governance structures". Totterman will remain on the board and also continue to perform day-to-day executive functions, Inspecs says, as he "remains critical to the future success of Inspecs". However, it will start to look now for a independent non-executive director to become chair. Richard Peck is the CEO of Inspecs. On Monday, Inspecs said it had refinanced its existing banking arrangements with HSBC UK Bank PLC, extending their maturity to 2027. They consist of a EUR38 million revolving credit facility and EUR12 million term loan.
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Somero Enterprises Inc - Jack Cooney will retire as CEO and president on March 31. Jesse Aho, chief operating officer of global operations and new product development, is promoted to president, while a search for a new CEO will begin immediately. Meanwhile, Larry Horsch will step down as chair until the arrival of the new CEO, at which point a new chair will be chose from among current directors. Somero says it remain confident that 2024 results will be in line with market expectations. It will release the results in March.
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InvestAcc Group Ltd - London-based pensions services provider - Hires Vinoy Nursiah to be CFO and board director, starting by the end of the first half of 2025. The appointment follows the acquisition of InvestAcc Holdings Ltd by acquisition vehicle Marwyn Acquisition Co II Ltd back in October and renaming of the company to InvestAcc. Current CFO James Pearce will step down immediately.
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By Tom Waite, Alliance News editor
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