REG - Fulcrum Utility Srvc - Directorate Change

Fulcrum Utility ServicesAnnouncement

24/01/2022 07:05

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RNS Number : 3024Z  Fulcrum Utility Services Ltd  24 January 2022

Fulcrum Utility Services Limited

("Fulcrum", the "Group" or the "Company")

Directorate Change

Fulcrum announces that Terry Dugdale, CEO of the Company, has decided to step
down from his role as CEO in order to resume an operational role within the
business.  He will step down from the Board with immediate effect and resume
the role of Group COO ("GCOO").

The Board is pleased to announce that Antony Collins has agreed to join the
Group as Interim Chief Executive Officer.  Antony brings extensive experience
combined with powerful implementation and leadership skills.  He has a strong
operational background in managerial control and processes which, combined
with Terry's knowledge of the business and operational capabilities, gives the
Board confidence that Antony is well placed to lead the Group whilst a
permanent successor is sought.  Most recently Antony was Interim CEO at
Carclo plc.

Terry Dugdale commented, "It has been a pleasure leading Fulcrum through the
recent challenging times which have seen many changes in the Group. I am
looking forward to stepping back into the operational side of the business and
delivering value through operational excellence.  I became CEO in January
2021 with a mandate to build a foundation for growth. This, I believe, has
been achieved; the Group now has an identified strategy for expansion and the
funds with which to execute it. It is now time for me to execute on this
strategy in an operational capacity and I look forward to working with Antony
in this regard."

Jennifer Babington, Non-Executive Chair of Fulcrum, said, "The Board would
like to thank Terry for his contribution to the Group during his time as CEO,
most notably leading the Group through the recent fundraise. Terry joined the
Company as GCOO in March 2019 and with his operational strength it makes sense
for him to focus his time on the operational side of the business and resume
the role of GCOO in order to best support the Group's growth objectives.

I believe that the Group now has a firm platform for growth and the Board is
excited by the long-term growth opportunities ahead for the Company and looks
forward to updating the market on the Company's progress."

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

Enquiries:

Fulcrum Utility Services Limited

Jennifer Babington, Non-Executive Chair
 
+44 (0)20 7397 8900

Cenkos Securities plc (Nominated adviser and broker)

Camilla Hume / Callum Davidson (Nomad) / Michael Johnson (Sales)
+44 (0)20 7397 8900

Notes to Editors:

Fulcrum is a multi-utility infrastructure and services provider. The Group
operates nationally with its head office in Sheffield, UK. It designs, builds,
owns and maintains utility infrastructure and offers smart meter exchange
programmes.

https://investors.fulcrum.co.uk/ (https://investors.fulcrum.co.uk/)

 

 

 

 

 

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