– UK, London – Hazel Renewable Energy VCT 1 plc (LSE:HR1O), announces that Stephen Hay has decided to resign as Chairman and non-executive director with effect from 30 April 2018 in order to focus on his other business interests.
The Board is also pleased to announce the appointment of Gill Nott to the Board of Directors with effect from 1 May 2018. Gill will also take over from Stephen Hay as Chairman.
Gill spent the majority of the first 27 years of her career working in the energy sector. In 1994 she became CEO of ProShare. Due to her work in the retail savings sector, she spent six years on the Board of the Financial Services Authority from 1998 to 2004. Gill has held a portfolio of non-executive positions, including roles with a number of VCTs and other the closed-end funds, over the last 15 years.
She was also a board member of the AIC from 2004 until 2014. She is currently chairman of JP Morgan Russian Securities plc and a non-executive director of Premier Global Infrastructure Trust plc and PGIT Securities 2020 plc.
Stuart Knight further commented “The Company undertook a formal process to identify candidates suitable to take over the role of chair of the Company, a process which yielded many high quality candidates and resulted in an offer being made to Gill. I am very pleased that Gill has agreed to join the Board and am looking forward to working with her. I am sure that her extensive experience in the VCT and closed-end funds sector generally will bring a new dimension to the Board.”
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