Directorate Changes

by: Phil Curtis 09/09/2014

Corac, a group of innovative gas, air and energy technologies businesses, announces changes to its Board following a review of its business.

Jon Carter, its Chief Financial Officer ('CFO'), is stepping down from his role and the Board and will be leaving the Group with immediate effect to pursue new career options. Jon joined Corac in July 2013 and played an important role in the successful fund raising completed in December 2013.

Mark Crawford, currently Chief Operating Officer, will take on the additional responsibilities of CFO, drawing upon his experience in that role from November 2009 to July 2013.

The Board is pleased to announce the appointment of Andrew McCree (57) as a non- executive director and chairman of the Remuneration Committee, effective 1 October 2014. Andrew has over 35 years' experience of energy and environmental technology and consulting businesses, with an extensive knowledge of technologies and markets.  His early career was with BP Exploration.  He then joined the UK Atomic Energy Authority (UKAEA) and in 2005 became Chief Executive of AEA Technology. Since 2011 he has worked for Gustin Partners, a US specialist consulting business. His principal role has been to advise on a range of defence, energy and climate change matters working with both government agencies and private sector clients.

Rohan Courtney will be stepping down from his role as a non-executive director with effect from 30 September 2014. Rohan was appointed to the Board in April 2010 and chairs the Remuneration Committee.

Richard King, Chairman of Corac Group commented:

"The Board would like to express its thanks to Jon and Rohan for their valuable contributions during their time with the Group and wish them well for the future. We are delighted to welcome Andrew to the team and look forward to benefiting from his experience in the next, exciting phase of Corac's growth"