Business
Transition of Group COO role
Transition of Group COO role.
About this update from Forgent Plc
[{"type":"text","content":"\n\n09 August 2024\nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \nTransition of Group COO in alignment with Group business strategy\n \nEQTEC plc (AIM:EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation announces transition of the Group Chief Operating Officer role (the \"Role\"). Jeffrey Vander Linden, currently in the Role, will resign and step down from the Board in due course, to support transition of the Role to a Spain-based engineering management professional. The Company intends to complete transition of the Role by the end of September 2024, although Mr Vander Linden may be asked to remain available beyond that date. Discussions with a prospective appointee to the Role are at an advanced stage and a further announcement will be made in due course.\n \nTransition of the Role comes as part of operational and organisational changes in line with the Group's business strategy and stated intent to become a pure-play technology innovator and licensor. As part of this strategy, originally announced in September 2021, the Group will co-locate operational management and decision-making with its Engineering team based in Barcelona, Spain, to be led by a Spain-based Group COO. This will further permit Group Chief Technical Officer Dr Yoel S. Alemán Méndez to focus exclusively on innovation, patent evolution and development of EQTEC's technology and engineering excellence.\n \nThe transition also comes in the wake of the Company's 2023 annual results, released on 28 June 2024, which noted that the Group was completing its strategic transition from capital-heavy development company to capital-light technology licensor and innovator.\n \nDavid Palumbo, CEO of EQTEC, commented: \n \n\"Jeff has been a game-changing member of our management team and on behalf of the Board of Directors, I want to thank him for his tireless effort and dedication to the Company for the past four years. Although we will all miss his drive and professionalism, it is the right time now for the Company to transition our global head of operations role to Spain, to be co-located with our Engineering team, which is the heart of our capabilities and services. In 2023, we completed a series...