9th Feb 2016 14:11
LONDON (Alliance News) - GETECH Group PLC said Tuesday that Chief Executive Officer Raymond Wolfson will step down with effect from no later than the end of July.
Wolfson will continue in the role in the interim until a new chief executive officer is appointed, whilst Chairman Stuart Paton will increase his level of day to day involvement. Following his resignation as Chief Executive, Wolfson will move into the non-board position of commercial director.
GETECH provides geological and geophysical services for the oil, gas and mining industry.
"The board will now actively seek a replacement and considers that, for the next stage in the company's development, a person with direct industry experience and knowledge is required. A specialist recruitment agency has been exclusively retained for this search," said Paton in a statement.
Shares in GETECH were down 3.0% at 29.10 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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