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Directorate Changes
Rame Energy, the independent power producer, has announced that, in order to increase its Non-Executive Board presence and to strengthen the Company’s industry and capital markets experience, it has made the following changes to the Board with effect from 1 February 2015.
Kevin McNair, who has more than 25 years’ experience in financial management and capital markets,has joined the Board as Chief Financial Officer. Chief Operating Officer Pieter Dhaen and Chief Financial Officer, Jan Gawel, have both stepped down from the Board but remain with the Company in executive capacities.
Kevin McNair has spent the past 12 years as Finance Director or Chief Financial Officer of various publicly quoted and privately owned businesses including as the CFO of two AIM listed resource businesses, a sector highly relevant to the Company’s activities. Mr McNair started his career with Fremont Financial in Chicago, then spent several years in corporate finance first with UBS and then Granville Baird. Kevin has a degree in business administration from the College of William and Mary in Virginia and an MBA from London Business School.
Jan Gawel will now report to the Board as Head of Investments responsible for Rame’s investments in Chile and Pieter will continue as Chief Operating Officer responsible for the delivery of the Group’s power generating projects.
Bill Fisher, Chairman, commented:
“The changes to the Board announced today are part of our ongoing plan to rebalance the composition of the board so that Non-Executive Directors make up a majority. I would like to thank Pieter and Jan for their effort and commitment as directors and, in particular, Jan for his contribution in completing the IPO in 2014. We see these changes as increasing our ability to invest in and build our generation portfolio in Chile and I am confident that both Jan and Pieter will continue to contribute to Rame’s future success in their executive roles.”
Tim Adams, CEO, commented:
“Kevin’s experience in capital markets and the resources industry is highly relevant to Rame and we are delighted that he is joining us. As our diverse portfolio of power projects matures, we will need to find a variety of creative ways to finance individual projects in order to maximise value for shareholders. Kevin’s city-focused expertise and broad network will be highly beneficial in achieving this.”
