Eleco appoints Dr. Annette Nabavi and Mark Castle to its Board as Independent Directors

– UK, London –  Eleco plc (LON: ELCO), the AIM-listed construction software specialist, today announced a refresh of its Board of Directors and the appointments of Dr. Annette Nabavi and Mark Castle to its Board as Independent Directors, effective immediately for Annette and with effect from 20 September 2021 for MArk.

Dr. Annette Nabavi is a highly qualified board director with more than 30 years of experience in the technology, telecoms, and digital industries who will bring additional expertise to advise with the shift from a perpetual to SaaS licence model. Dr. Nabavi will succeed Kevin Craig as Chair of the Remuneration Committee and become Senior Independent Director.

Mark Castle is an experienced business leader, bringing with him a wealth of experience in the Property, Construction, Consultancy and Built Environment Sectors and will help provide the voice of the customer on the Board. On joining the Board, Mark Castle will become Chair of the newly created ESG Committee.

“I am delighted to welcome Dr. Annette Nabavi to the Eleco Board as the Senior Independent Non-Executive Director and Chair of the Remuneration Committee. With our strategy now in place, Annette’s impressive track-record in the technology, telecoms and digital industries will add tremendous value to us as we implement our next phase of growth. Further, her work with the QCA will be extremely beneficial as we focus on enhancing our corporate governance to ensure that it is the best in the business.” said Executive Chairman, Serena Lang. “I am also excited to be welcoming Mark Castle to the Board of Eleco in September. His long and illustrious career in construction and the built environment will be indispensable to us as we seek to move from a product centric to a customer centric model and expand our business in these sectors. Mark has huge experience in helping businesses to grow, always with a focus on driving customer service and shareholder value. His strong commercial and business acumen will prove a great asset to us, as will his expertise in performance and risk management, compliance, and support around ESG.”

The Company also confirms that Executive Chairman Serena Lang will return to her previous non-executive capacity as Non-Executive Chairman in September.

Serena Lang commented: “With a strengthened and highly capable management team in place, aligned with our newly revised strategy, which is being successfully implemented across the business, I am also pleased to be able to announce that I will be moving to the role of Non-Executive Chair. I have every confidence that, with these essential building blocks now firmly underpinning the business, Eleco will continue to deliver growth to the benefit of all shareholders.”

Kevin Craig will be stepping down from the board at the end of August to focus on his other growing business interests, and David Dannhauser will also step down at the end of August.

About Dr. Annette Nabavi

Dr. Nabavi has held several Non-Executive Director roles, including a seven-year tenure at AIM-listed Maintel Holdings Plc, a cloud and managed services company, where she also chaired the Remuneration Committee. She has substantial experience in this area through her involvement with the Quoted Companies Alliance, where she supported the update to the Remuneration Committee Guide. In 2018, she was shortlisted for The Sunday Times’ Non-Executive Director Awards as AIM Director of the Year.

Her current roles include Managing Director of Anchusa Consulting, where she advises on strategic issues and corporate finance in the technology and telecoms sector, and Partner at AHV Associates, a corporate finance advisory firm specializing in M&A and capital raising.

Dr. Nabavi is also Finance Director for Women in Telecoms and Technology, a Not-for-Profit organisation, and serves as a judge for the prestigious World Communications Awards.

She holds an MA from Oxford University and a Doctorate from the University of Dijon.

About Mark Castle

Mark Castle is currently a Non-Executive Director of Mace Group, a global construction, property investment, consultancy, and facilities management business, which he joined in 2005. Working as COO until earlier this year Mark oversaw Mace Group’s construction growth from start-up to becoming a £1.6 billion revenue company within the group which operates in over 80 countries with 6,500 employees.

Prior to working at Mace Group, Mark was Managing Director UK of New York based Structure Tone, a $3bn revenue construction company, and before this was Managing Director London of Wates Group, a £1.4 billion revenue construction business headquartered in London.

He is a Fellow of the Royal Institute of Chartered Surveyors.

About Eleco plc

Eleco plc is an AIM-listed specialist international provider of software and related services to the Architectural, Engineering, Construction, and Owner/Operator industries and interior furnishing industries from centres of excellence in the UK, Sweden, Germany, Netherlands and the US.

The Company’s market-leading Elecosoft software solutions are developed by teams in the United Kingdom, Sweden and Germany, and its solutions cover project management, estimating, timber engineering, CAD and visualisation, asset and facility management and cloud-based digital marketing solutions.

For more information : https://eleco.com/

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