FireAngel (AIM:FA.), one of Europe's leading developers and suppliers of home safety products, announces that John Shepherd, a Non-Executive Director of the Company, will step down from the Board on the earlier of 31 August 2020 or the appointment of a new Non-Executive Director. The search is already underway for a new Non-Executive Director to join the Board.
Mr. Shepherd, who is Chairman of the Company's Nominations Committee, commenced the process of refreshing the Board's composition in mid-2018, leading to the appointment firstly of Mike Stilwell as CFO and secondly of John Conoley, initially as Non-Executive Chairman and subsequently as Executive Chairman.
Mr. Shepherd has continued to work with the Company's Executive Chairman on the subsequent changes of Non-Executive Directors, including the current search. Further to the Company's announcement earlier today confirming the successful application for a CLBILS loan to provide a more secure journey through the disruption caused by COVID-19, it is an appropriate time for this further change to be made on the Board.
John Conoley, Executive Chairman of FireAngel, commented: "John has been instrumental over the past two years in the extensive reshaping of the FireAngel Board, and in working with Board colleagues through many difficult challenges. It is now a very different Board which is well balanced to exploit the Company's investment in R&D going forward. John leaves with our best wishes for his new endeavours."