12 August 2021
[This is an edited version of the Eleco press release; please see https://eleco.com/regulatory/directorate-changes/ for full details.)
Following the strategy announcement earlier this year, the Board of Eleco plc, the AIM-listed construction software specialist, is pleased to announce a refresh of the Board.
After a formal and rigorous process to find additional Independent Non-Executive Directors (NEDs) with software and construction backgrounds, the Board would like to announce the immediate appointment of Dr. Annette Nabavi, a highly qualified board director with more than 30 years’ 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. Additionally, Mark Castle, an experienced business leader, will join the Board with effect from 20 September 2021. Mr. Castle brings 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.
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 (QCA), 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 specialising 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.
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. Dr. Nabavi will succeed Kevin Craig as Chair of the Remuneration Committee and become Senior Independent Director and Paul Boughton will become Chair of the Audit Committee.
Serena Lang, Executive Chairman, said:
“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.
“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.”