8th Mar 2019 09:39
LONDON (Alliance News) - Natural gas storage firm Infrastrata PLC said on Friday that Graham Lyon has stepped down as chair with immediate effect.
Lyon, who has been chair of the company since November 2017, wants to concentrate on other projects, Infrastrata said.
Chief Executive John Wood will step up to the role, in addition to CEO duties, until a new chair can be found.
This process, however, could take between three to six months, the company cautioned, to "find the right individual".
Wood commented: "It has been our pleasure to work with Graham over the past year and to be proceeding with our Islandmagee gas storage project apace. We wish Graham well with his other business interests and thank him for his efforts over his entire journey with InfraStrata.
"I look forward to identifying with the rest of the board a new chair that will lead us on the next stage of our journey."
Infrastrata shares were 8.8% lower on Friday at a price of 0.88 pence each.
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