2nd Oct 2019 18:04
(Alliance News) - Malvern International PLC on Wednesday said it is promoting Non-Executive Director Mark Elliott to chair as Gopinath Pillai steps down with immediate effect.
Pillai is a director at "significant shareholder" KSP Investments, which will still have representation on the Malvern board through Haider Sithawalla, a non-executive director.
Elliott, who joined learning and skills development company Malvern's board in July as an independent director, has been appointed as chair.
In addition, Malvern has also appointed another independent non-executive director, Alan Carroll, to its board with immediate effect.
Elliott said: "I would like to thank Gopinath Pillai for his substantial contribution to Malvern since it joined AIM in 2004. His advice as chairman, and financial support in the last few difficult years has been invaluable. We are very pleased that the investment vehicle that he founded, KSP Investments, remains a supportive shareholder.
"I would also like to welcome Alan Carroll who brings with him a wealth of experience and a strong focus on corporate governance. He joins Malvern at a time when the strategy implemented in the last few years is starting to yield results, not least with the highest forward bookings in the company's history."
Shares in Malvern closed down 3.5% at 1.93 pence in London on Wednesday.
By Anna Farley; [email protected]
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