10th Oct 2014 13:43
LONDON (Alliance News) - Quadrise Fuels International PLC said Friday that it has appointed Jason Miles, who has previously acted as interim chief operating officer of its Quadrise International Ltd arm, as group chief operating officer from October 1.
Miles has held served as a non-executive director since October 2010 following a re-structuring of the company and management. He worked at Quadrise International under a contract between Roe Projects Ltd and Quadrise International. This contract has since been terminated with retroactive effect from September 30.
Miles is now employed directly by the company as an executive director, and he will continue to serve on the board of Quadrise International.
"Jason Miles continues to play a key role making a major contribution to the company. The arrangements agreed in 2010 were right for the time and circumstances. The new arrangements reflect the development and progress of the company, and the evolution of Jason's role, since then," said Executive Chairman Ian Williams in a statement.
"We have been waiting for a suitable opportunity to effect the changes now announced, ahead of the imminent transition of Quadrise to substantial commercial operations in 2015, Williams added.
Shares in Quadrise Fuels are trading down 8.3% at 32.09 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
QFI.L