TIDMSAE
RNS Number : 9960K
SIMEC Atlantis Energy Limited
08 January 2021
8(th) January 2021
SIMEC ATLANTIS ENERGY LIMITED
("Atlantis", the "Company" or the "Group")
Appointment of New Chief Executive (CEO) and Directorate
Change
SIMEC Atlantis Energy, the AIM listed sustainable and renewable
energy developer and operating company (AIM: SAE), announces the
appointment of Graham Reid as the new Chief Executive Officer and a
Director of Atlantis effective 18(th) January 2021. Tim Cornelius
has agreed to take up a new role as a Senior Adviser to the Group
and will consequently resign his position as Chief Executive
Officer, effective the same date.
Graham is an experienced and highly capable CEO, leader and
engineer, with extensive international experience in the energy and
infrastructure space. Graham was most recently CEO of RES Americas,
and prior to that CEO of Arcadis Middle East, a member of Network
Rail's project delivery board for the London bridge station project
and earlier in his career was the UK Managing Director and an
Executive Board member of Hyder Consulting plc.
Having delivered more than 5GW of wind, solar and storage
projects in previous roles, Mr Reid has been selected by the Board
of Directors to build on the successful development history of the
Company and to use his considerable project management and delivery
experience to steer Atlantis through the delivery phase of the
Uskmouth Power Station conversion project, the build out of fuel
production plants, the expansion of the MeyGen project and the
development of further hydro asset opportunities.
In his new advisory position, Tim Cornelius will continue to
support the Board and Company on a range of matters, including
ongoing relationship management with key stakeholders, customers,
and strategic partners.
Mr Reid will receive an option award on joining, calculated with
reference to the closing price on 8(th) January 2021. The Company
will provide further notification of the details of the award in
due course.
John Neill, Atlantis Chairman, said:
"Tim is an exceptional entrepreneur and I can understand why he
wants to take the next steps in his career. On behalf of the board
I would like to thank Tim for his contribution to the Company over
the past 15 years and for agreeing to remain as a Senior Advisor to
the Board of Directors and mentor to the leadership team. We are
pleased that we will continue to benefit from his domain knowledge,
experience and relationships built up over many years and I would
like to wish Tim every success in his future endeavours.
I am delighted to welcome Graham Reid and congratulate him on
his appointment as the incoming CEO of Atlantis. The board
conducted a very thorough, independent and rigorous recruitment
process to select Graham. Graham is an experienced corporate leader
with a proven track record of successful project management and
delivery. His skills are very well suited to ensure the safe and
timely delivery of our flagship projects which in turn will create
value for our shareholders and stakeholders. I very much look
forward to working with Graham in the period ahead."
Graham Reid, incoming CEO said:
"I am delighted to be joining SIMEC Atlantis at such an exciting
time in its growth trajectory. This is a unique opportunity to
become part of an exceptional business delivering several
first-in-class projects that will make meaningful contributions to
a lower carbon economy. SIMEC Atlantis is a recognised pioneer in
the development and operation of renewable and sustainable energy
projects and I very much look forward to playing my part in the
successful delivery of the Uskmouth conversion project and the
build out and commissioning of fuel production plants across the
country. I am also relishing the opportunity to work with the
Atlantis team to progress our exciting marine energy and hydro
portfolios."
Tim Cornelius, outgoing CEO, said:
"For more than 15 years, Atlantis has been a huge part of my
life and I owe our investors, stakeholders, staff, current and
former directors and the Chairman a debt of gratitude I will never
be able to fully repay. I am delighted to continue my involvement
with the Company as we enter the next exciting phase of our journey
- from origination to construction and commissioning. Now is the
right time to introduce new skills into our leadership team to
ensure that we have the right mix of experience in place to deliver
on all of our flagship projects and Graham is highly credentialed
and vastly experienced in project management and successful project
delivery. It has been privilege to be a part of the Atlantis
journey so far and I very much look forward to being able to
continue my association with the wonderful group of people who work
there and the inspiring group of stakeholders who support
them."
------ENDS-----
Further Information
Graham Reid, age 59, is, or has been, a director or partner of
the following companies or partnerships during the previous five
years:
Silversabre Limited
Renewable Energy Holdings Limited
Arcadis Consulting UK Limited
Hyder Consulting Overseas Limited
Jacksonhyder Limited
Association of Consultancy and Engineering
Vectra (Middle East) Limited
Arcadis international Limited
Arcadis Gulf O&G Limited
Arcadis Gulf Limited
There is no further information required to be disclosed
pursuant to Schedule Two, paragraph (g) of the AIM rules.
Enquiries:
+44 (0) 7739 832
SIMEC Atlantis Energy Limited 446
Sean Parsons, Director of
External Affairs
----------------------
Investec Bank PLC - NOMAD +44 (0) 20 7597
and Joint Broker 5970
----------------------
Jeremy Ellis
Sara Hale
Ben Griffiths
----------------------
Arden Partners PLC - Joint
Broker +44 (0) 20 7614 5900
----------------------
Ruari McGirr
Richard Johnson
Simon Johnson
----------------------
Notes to Editors
SIMEC Atlantis Energy
Atlantis is a global developer, owner and operator of
sustainable energy projects with a diverse portfolio in various
stages of development. This includes a 77 per cent. stake in the
world's largest tidal stream power project, MeyGen, 100 per cent.
of the 220MW Uskmouth Power Station conversion project and 100 per
cent. of Green Highland Renewables, a leading developer of
mini-hydro projects.
https://www.simecatlantis.com/
More on the MeyGen Project:
https://simecatlantis.com/projects/meygen/
More on the Uskmouth Project:
https://simecatlantis.com/project-development-operation/simec-uskmouth-power/
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END
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