Source - LSE Regulatory
RNS Number : 2187V
Lamprell plc
10 December 2021
 

 

 

10 December 2021

 

 

LAMPRELL PLC
("Lamprell" and with its subsidiaries the "Group")

 

DIRECTORATE CHANGES

 

Board composition continues to evolve in line with Group's "Lamprell reimagined" strategy

 

 

Pursuant to recent announcements, Lamprell today announces the following changes to the composition of the Board of Directors.  Jean Marc Lechene has been appointed as an independent Non-Executive Director to Lamprell's Board with effect from yesterday.  In addition, Mr James Dewar has decided to step down from his role as a Non-Executive Director after more than four years on the Board, for personal reasons. 

 

Mr Lechene has 40 years' international experience with deep expertise in the renewables industry.  In his last executive role as COO of Vestas, one of the global leaders in wind turbines, he oversaw manufacturing, procurement, safety, quality and environment processes within a global footprint covering Europe, US, China, India and Brazil.  Prior to Vestas, Mr Lechene held senior management roles at Michelin and Lafarge.  Mr Lechene has extensive international business experience, from strategy, to operations to change management, and his in-depth knowledge of the renewables industry will be valuable to Lamprell.  Mr Lechene graduated from Ecole de Mines Paris in 1981 with an MSc in Engineering and holds an MBA from INSEAD.

 

Lamprell is committed to evolving the composition of its Board to ensure it remains closely aligned with delivery of the Group's "Lamprell reimagined" strategy, which comprises the Renewables, Oil & Gas and Digital business units.

 

The composition of the Board Committees will be amended in light of these changes and the Committee structures will be updated shortly on the Company's website, www.lamprell.com.

 

 

John Malcolm, Chairman, Lamprell, said:

"I am very pleased to see us adding further strength and depth to the Board.  Mr Lechene's appointment as an independent Non-executive director will be invaluable as we continue to develop our three business units and drive the strategy forward.  With his impressive credentials comprising international leadership experience in multiple areas of interest, particularly renewables, he will undoubtedly help support and shape the organisation's continuing evolution.  Along with my fellow Board colleagues, we look forward to welcoming Mr Lechene to Lamprell.

 

I would also like to thank James for his valuable contribution during his time on the Board and for providing us with the benefit of his strategic and financial expertise, particularly in his role as chair of the Audit and Risk Committee.  He has provided significant insights into assessing the risks faced by the Company during this challenging period.  On behalf of the Board, I wish him all the best for the future."

 

James Dewar said:

"The launch of "Lamprell reimagined" early in 2021, together with the recent successful completion of the capital raising resulting in the subsequent completion of the new debt facility for the IMI rigs, helps to restructure the Company for the energy transition and to strengthen the balance sheet going into 2022.  Accordingly, after four years as a board member, this is an appropriate time for me to step down from Lamprell Plc, for personal reasons.  As a long term shareholder, I look forward to seeing the Company progress in the coming years."

 

 

 

In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Jean-Marc Lechene other than as follows:

 

Current Directorships

·    Non-executive Chairman, Norican Group A/S

·    Non-executive Chairman, Tresu A/S

·    Non Executive Independent Director, Velux A/S

·    Head of the advisory board, Baettr GmbH

 

Previous Directorships (past 5 years)

·    None

 

 

This announcement contains information in relation to a director appointment and a director departure which is deemed by the Company to constitute inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended).

 

 

- Ends -

 

 

Enquiries:

 

Lamprell plc

 

Maria Babkina, Investor Relations

+44 (0) 7852 618 046



 


Tulchan Communications, London

+44 (0) 207 353 4200

Martin Robinson


Martin Pengelley


Guy Bates


 

 

 

Notes to editors

Lamprell is a leading provider of services to the international energy sector. Driving strategy and growth through its Renewables, Oil & Gas and Digital business units, underpinned by almost half a century of expertise, the Group has worked hard to establish its reputation for delivering projects safely, on time and to budget.

The Group has firmly established its international credentials in the renewables sector as well as continuing to build on its traditional oil and gas credentials. We are recognised for building complex offshore and onshore process modules and platforms, fabricating and refurbishing jack-up rigs and liftboats.

Lamprell employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the UAE. Combined, the Group's facilities cover approximately 800,000m2 with over 1.5 km of quayside. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Lamprell is listed on the London Stock Exchange (symbol "LAM")."

 

Legal Entity Identifier of the Company: 2138008NUMXRMIEDF538

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