Andalas Energy and Power plc (AIM:ADL) is pleased to announce the following changes to its board and senior management. The changes reflect the transition of the Company’s focus from business development to project execution.
Mr Paul Warwick will retire from his role as Chairman of the board. Mr David Whitby will assume the role of Chairman, Dr Robert Arnott will be appointed senior non-executive director and Mr Simon Gorringe will become Chief Executive Officer. The changes will take effect immediately.
The Company’s new Chairman, David Whitby, said “Andalas is moving into its next phase as an IPP developer. Whilst the Company will continue its business development programme, the recent operational progress dictates that our day to day focus shifts to project execution. As COO, Simon has been at the centre of the company’s business development initiatives and his experience and track record of delivering international energy projects, including Indonesian projects, makes him the ideal candidate to deliver Andalas’ next phase of development and ultimately first power.
“On behalf of the board, I would like to extend our thanks to Paul for his service and much valued advice during his tenure as Chairman and wish him well in his future endeavours.”
Outgoing Chairman, Paul Warwick said “It has been a pleasure being a member of the board of Andalas. We had embarked on an ambitious journey, but we have delivered on our strategic intent of creating a company focussed on power opportunities in Indonesia with world class partners. Dave has been essential to delivering Pertamina as our partner, which I believe is a unique achievement for a start-up and creates a great platform for the future, which he will continue to develop in his role as Chairman. Simon is the right candidate to replace him as CEO, because he has the requisite skills and intimate understanding of our projects to drive the business forward as it focusses on project development.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
For further information, please contact:
|David Whitby||Andalas Energy and Power Plc||Tel: +62 21 2783 2316|
|Sarah Wharry||Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
|Tel: +44 20 7894 7000|
|Jon Belliss||Beaufort Securities Limited
|Tel: +44 20 7382 8415|