Scirocco, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, announces that Don Nicolson has served notice of his intention to step down from the Board on or around the date of the 2023 Annual General Meeting.
This update follows the RNS issued on 1 March in which the Company indicated its intention to review the composition of the board as the Company makes further progress on its own transition from an investor in natural resources to renewable energy assets over the coming year. Don's core skill set and experience relates to oil, gas and natural resources and his stepping down allows the company to introduce alternative experience to the board which more directly supports the renewable energy strategy.
Don has confirmed he will support the Company in his capacity as Chairman of the Audit Committee through to the completion of the 2022 audit and annual report.
The Company will now commence a process to recruit a suitable replacement independent non-executive director with the requisite skills and experience and an update will be provided in due course.
Commenting on the change, Alastair Ferguson, Chairman of Scirocco, said:
"Don has been a valuable asset to Scirocco as the Company has transitioned from legacy natural resources assets to its strategic focus on transition opportunities within the sustainable energy and circular economy markets. We are grateful for Don's contribution as an independent director and audit committee chair, and appreciate his support on the orderly handover of those duties. We wish Don well with his future endeavours and look forward to updating the market in due course once we identify an appropriate replacement INED.
On a personal note I have greatly appreciate Don's advice and guidance on a broad range of issue from an independent perspective since he joined the board in 2019."
