InfraStrata Chief Steps Down
InfraStrata, the small UK company hoping to develop a gas storage project in Northern Ireland amid the uncertainty raised by Brexit over future EU grants there, said August 16 it has changed its CEO.
It said a restructuring of its executive team will put it "in good stead" as it progresses the 0.5bn m3 project, currently at the front-end engineering design (Feed) stage but yet to take a final investment decision.
Adrian Pocock, CEO since June 2017, relinquishes his position August 16 to John Wood, presently COO. However Pocock will remain an executive director until October 31 2018, handling business development activities, thereafter likely becoming a non-executive director. The other top manager remains Andy Duncan as CFO. InfraStrata said the team has been "driving the Feed programme and commercialisation of the Islandmagee gas storage project in recent months and is fully committed to completing Feed and ensuring current negotiations with potential offtake partners succeed."
Non-executive chairman Graham Lyon thanked Pocock for his contribution and for "stabilising the Company and instigating Feed," and expressed his continued confidence in Wood.
(Banner photo shows view of the planned Islandmagee site, courtesy of InfraStrata)