Directorate Change

RNS Number : 7982E

Quadrise Fuels International PLC

21 July 2016

 

21 July 2016

Quadrise Fuels International plc
("Quadrise", "QFI'' or the "Company")

Directorate Change: Retirement of Non-Executive Director
 

Quadrise Fuels International plc (AIM: QFI) is the emerging manufacturer and supplier of MSAR emulsion fuels, a low cost alternative to heavy fuel oil (one of the world's largest fuel markets comprising in excess of 450 million tons per annum) in the global shipping, refining and steam and power generation markets.

Quadrise announces that Dr. Ian Duckels, a Non-Executive Director of the Company, will be retiring as a director of Quadrise immediately after the 2016 AGM to be held during the last quarter of 2016.  Dr. Duckels has been a director of the Company since September 2008 and will have served for over 8 years on his retirement.  Prior to joining the board of QFI, Dr. Duckels had served as a director of Quadrise Limited from 1998 until its acquisition by QFI in 2006, following which he provided consultancy services to QFI.  

QFI has an organised succession planning process in place and so will manage the transition smoothly, without needing to recruit an additional non-executive director at this stage.  Philip Snaith, who was appointed as a Non-Executive Director in 2014, will succeed Dr Duckels as Chairman of the Remuneration Committee immediately after the 2016 AGM.

Mike Kirk, Executive Chairman of Quadrise said:

"Ian has made a significant contribution to the development of QFI and I have found his input hugely helpful during my transition from Non-Executive Director to Executive Chairman in April of this year.  I look forward to continuing to work with Ian until the AGM and I and the board wish Ian all the best when he takes his well deserved retirement later this year."

Quadrise Fuels International plc
Mike Kirk, Executive Chairman	[phone]
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance Limited
Dr Azhic Basirov	[phone]
Ben Jeynes
Broker
Peel Hunt LLP
Richard Crichton	[phone]
Ross Allister

Public & Investor Relations
Bell Pottinger
Daniel Thöle	[phone]

 

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