Board Change

RNS Number : 4115C

Yu Group PLC

10 February 2020

 

10 February 2020

Yü Group PLC

("Yü Group" or the "Group")

Board Change

Yü Group PLC, the independent supplier of gas, electricity and water to the UK business sector, is pleased to announce that current Board Director, Garry Pickering, will take on a new role within the Group, effective immediately.

Garry's undivided attention will now be on the hedging, risk management and operational forecasting and analysis activities required of a gas and electricity portfolio. As Director of Trading Services, Garry will also explore external development opportunities to expand the Group's gas shipping services and other specialised energy trading related solutions. Garry will retire his PLC Board duties to focus on this new role.

Commenting on the appointment, Bobby Kalar, Chief Executive of Yü Group, said: "Garry has been with the Group since before we listed on AIM and his specialist knowledge of the electricity and gas markets gained in over 20 years in the industry is invaluable. The Board is keen to leverage that knowledge for greater Group benefit and recognise that his skill set lies in the technical side of risk management and designing new services. I am delighted that the business will continue to benefit from his niche expertise in a role dedicated to manage risk, trading and hedging whilst also exploring new growth opportunities, including our gas shipping offering.  Garry will remain an integral part of the team as we implement our strategy and focus on the key areas that will ensure our long-term profitable growth."

Following this Board change, the Group Board will consist of three Non-Executive Directors and two Executive Directors, comprising:

Robin Paynter Bryant, Independent Non-Executive Chairman

Anthony Perkins, Senior Independent Non-Executive Director

John Glasgow, Independent Non-Executive Director

Bobby Kalar, Chief Executive Officer

Paul Rawson, Chief Financial Officer

The Audit Committee will now comprise Anthony Perkins (Chair), John Glasgow and Robin Paynter Bryant.

The remuneration committee will now comprise John Glasgow (Chair), Anthony Perkins and Robin Paynter Bryant.

For further information, please contact:

Yü Group PLC Bobby Kalar Paul Rawson	[phone]
Shore Capital Advisory Edward Mansfield Anita Ghanekar James Thomas Broking Fiona Conroy	[phone]
Alma PR John Coles Hilary Buchanan Helena Bogle	[phone]

Notes to Editors

Information on the Group

Yü Group PLC, trading as Yü Energy, is an independent supplier of gas, electricity and water focused on servicing the business sector throughout the UK. It has no involvement in the retail supply of energy to the domestic sector. The Group was listed on the AIM market of the London Stock Exchange in March 2016.

 

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