LONDON - AFC Energy PLC (AIM:AFC), a key player in hydrogen power generation technologies, disclosed today that its Chief Financial Officer (CFO) and Executive Director, Peter Dixon-Clarke, will resign to explore new opportunities. Dixon-Clarke will step down immediately but will remain with the company until the end of the month to aid in the transition.
Karl Bostock has been named the new CFO and Executive Director, effective January 20, 2025. Bostock, with over 15 years of CFO experience in the manufacturing sector, joins AFC Energy from his previous roles at Bulgin Limited and Coveris UK. Notably, he has worked with John Wilson, who is set to become AFC Energy's CEO on January 6, 2025. Bostock's expertise extends to business partnerships in private equity-owned settings.
Gary Bullard, Chairman and CEO of AFC Energy, expressed gratitude to Dixon-Clarke for his service and welcomed Bostock, highlighting his track record and previous successful collaboration with Wilson. Bullard anticipates the duo will enhance shareholder value during a pivotal period for the company.
Peter Dixon-Clarke, in his departing statement, conveyed confidence in the company's future success and wished the team well. Bostock, in anticipation of his new role, expressed eagerness to contribute to AFC Energy's growth and the commercialization of its technologies.
The announcement clarified that Bostock does not currently hold any shares or share options in AFC Energy. Additionally, an appendix to the press release listed previous directorships held by Bostock, noting that the entities had gone through restructuring processes, including Members' Voluntary Liquidation or Voluntary Strike Off, with no outstanding charges or external creditors at the time of liquidation.
No further information requiring disclosure under the AIM Rules for Companies in respect of Karl Bostock was reported. This leadership change comes as AFC Energy continues to expand its global presence and commercialize its hydrogen power generation and Hyamtec technologies.
The information for this article is based on a press release statement from AFC Energy.
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