Rurelec PLC Directorate Change (6261Q)
June 19 2015 - 2:02AM
UK Regulatory
TIDMRUR
RNS Number : 6261Q
Rurelec PLC
19 June 2015
19 June 2015
Rurelec PLC
("Rurelec" or "the Company")
CEO Peter Earl to Step Down
The Directors of Rurelec PLC (AIM: RUR), the owner, operator and
developer of power generation capacity internationally, announce
the resignation of its CEO, Peter Earl. Andrew Morris has been
appointed as his successor. Partnership discussions at the
corporate level, which are currently taking place may lead to the
appointment of new directors to strengthen the executive team,
including a Finance Director in due course.
Speaking today, Peter Earl said: "I am honoured to have served
as Group CEO since the creation of Rurelec in 2004. The last five
years have been a bruising time for Rurelec and its shareholders.
The time is now right for a new CEO to lead the Company onto an
expansion footing in partnership with others in the power
industry."
Commenting on the resignation, Colin Emson, Chairman of Rurelec,
said: "I thank Peter for his hard work as CEO and particularly for
the long hours he expended on trying to achieve compensation for
shareholders after the 2010 nationalisation of Rurelec's Bolivian
power plants. The damaging results of that nationalisation have
taken their toll on the Company and its management alike. Now is
the time to put the dark past behind us and look to building new
partnerships for the future and create value for all
shareholders."
For further information please contact:
Rurelec PLC W H Ireland CNC Communications
Andrew Morris, Paul Shackleton and Ana Ribeiro
Director James Bavister Director
Tel: 020 7793 Tel: 020 7220 1666 Tel: 020 3219
5600 8818
This information is provided by RNS
The company news service from the London Stock Exchange
END
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