10th Dec 2019 18:02
(Alliance News) - Sustainable fuels technology company Velocys PLC said on Tuesday that it has appointed Senior Independent Director Philip Holland as chair with immediate effect.
Holland is taking over the role from Pierre Jungels who has retired from the company after thirteen years of service.
Holland is a board member of petroleum exploration & production company Enquest PLC where he chairs the risk committee and is a member of the remuneration committee.
"It is with great pleasure and enthusiasm that I have accepted the opportunity to succeed Pierre Jungels as chair of Velocys. Under Pierre's leadership, Velocys has progressed a long way since its initial public offering in 2006," said Holland.
He added: "I look forward to working closely with chief executive officer Henrik Wareborn and the board to secure the first sustainable aviation fuel project here in the UK."
In addition, the company said Sandy Shaw will assume Holland's former role as senior independent director. Shaw previously served as a director at Valiant Petroleum PLC.
Velocys' shares closed 9.3% lower at 1.36 pence on Tuesday in London.
By Ife Taiwo; [email protected]
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