Harland & Wolff Group said Monday that Clive Richardson, Non-Executive Chairman of the company was stepping down from the Board. His notice period will run until mid-December 2021.
Harland & Wolff Group said: "The company remains involved in advanced large complex bids and negotiations for multiple projects for financial year 2022 and beyond. Given the volume of work and related time investment required of the management team and of the broader Board of Directors over a prolonged period to bring these contracts to fruition, Mr. Richardson has decided to step down to focus on other activities to which he is already committed."
The company recently changed its name from Infrastrata to Harland & Wolff Group after the iconic shipyard that built the Titanic, which the company acquired in 2019.
Harland & Wolff Group said a formal process to appoint Richardson's successor has been initiated and, while this progresses, Malcolm Groat, currently Chair of the Audit Committee, has been named as Interim Chairman.
"The Company is already executing a plan to strengthen its Board - which has included the recent appointment of Sir Jonathan Band - and further announcements will be made in due course," the company said.
John Wood, Group CEO of commented: "The Board and I wish to place our thanks to Clive for his invaluable contribution to the Company's business. He has successfully steered the Company through the peak of the COVID-19 pandemic and has overseen the acquisitions of Harland & Wolff (Appledore) and Harland & Wolff (Methil) & (Arnish) in 2020 and 2021 respectively.
"I warmly welcome Malcolm as our Interim Chairman, who is equally adept at navigating the journeys of high-growth AIM companies. I look forward to working closely with Malcolm as we embark upon the next stage in the company's growth."
The company recently signed a Memorandum of Understanding (MoU) with Spanish companies Navantia and Windar to target specific fixed and floating wind projects primarily within the UK.