Portfolio

Dagley out, Hutt in as Simec Atlantis finance chief

By Josh White

Date: Friday 28 Feb 2020

Dagley out, Hutt in as Simec Atlantis finance chief

(Sharecast News) - Energy projects developer, owner and operator Simec Atlantis Energy announced on Friday that Andrew Dagley would stand down as its chief financial officer at the end of February.
The AIM-traded company said Dagley would remain an executive director on its board, and would lead the financing of the Uskmouth waste-to-energy conversion project.

It also announced that Stephen Hutt, who joined the firm as part of the acquisition of Green Highland Renewables in 2019, would be appointed as group CFO with effect from 1 March, but would not be joining the board at that time.

Hutt would be based at the company's head office in Edinburgh.

"I would like to thank Andrew for his support and hard work, particularly over the last two years as we have transformed the company from a marine energy specialist into a leading developer of renewable and sustainable energy projects driven by acquisitions in the hydro and waste to energy sectors," said chief executive officer Tim Cornelius.

"Andrew will now take up a role focusing on the financial close package for our Uskmouth conversion project.

"I am delighted that Stephen has agreed to accept the CFO position and I look forward to working closely with him as we continue to grow the Atlantis group."

Cornelius said Hutt joined Atlantis in 2019 as part of the acquisition of Green Highland Renewables, where he held the dual roles of managing director and CFO, adding that he had rapidly become an "integral and highly valued" part of the team.

"His experience and pedigree in the delivery, financing and operation of renewable energy projects in the UK will be very valuable as we seek to finance, construct and commission our flagship projects, as well as continue to grow our hydro, marine and end of waste project portfolio."

At 1420 GMT, shares in Simec Atlantis Resources were down 5.78% at 10.6p.

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