– UK, Cambridge – Elektron Technology plc (AIM: EKT), the global technology group, today announces the following changes to its Board of Directors. Following proposals from the Company’s two largest shareholders, D&A Income Limited (24.13%) and John Kinder (15.71%), Giovanni Ciuccio and Peter Welch will join the Elektron Board as Non-Executive Directors from 10 September 2015. Peter and Giovanni will each become members of the Audit and Remuneration Committees, both of which will be chaired by Peter.
Giovanni (age 34) has extensive knowledge and experience in capital markets, structured finance and valuation, being involved latterly in investment management and prior to that investment banking at Barclays Capital. Giovanni is currently employed within the D&A Income Limited group.
Peter (age 53) was a founder, shareholder and Board Director of Singer Capital Markets Ltd and led its merger and integration with N+1 Brewin. Prior to that Peter had a career in the insurance industry, holding a number of senior executive positions with Hiscox plc. He will become Senior Independent Director.
The two current Non-Executive Directors, Tony Harris and Ric Piper, are standing down from the Board today. In accordance with their Letters of Appointment they will each receive three months’ payment in lieu of notice.
Keith Daley, Chairman commented: “We are delighted to welcome both Peter and Giovanni as Non-Executive Directors. Their breadth of executive and finance experience will be of considerable value to the Board.”
“The Board is extremely grateful for the significant contribution that Ric and Tony have made as Non-Executive Directors during an exceptionally challenging period since they joined the Board in 2012 and 2013 respectively.”
“We are pleased that Andy has offered to stay with us for the time being, but of course will be very sorry to see him go.”
“The Group is entering a new phase in the development and the new Board is excited by the opportunities that face us.”
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