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Tekmar Group announces CEO appointment and board changes

By: Chloe Emanuel 28/06/2024 Tekmar Group

General Windfarms

Tekmar Group (AIM: TGP), a leader in technology and services for the global offshore energy markets, has announced significant board changes to support its ambitious growth strategy.

Effective September 2024, Richard Turner will join Tekmar as Chief Executive Officer. Turner, who brings extensive experience from his roles at Geoquip Marine, BEL Valves, and JDR Cable Systems, is recognized for driving profitable growth and operational excellence in the offshore energy sector. His most recent position was CEO at Geoquip Marine, where he led the company to significant revenue and profit growth within a year.

Alasdair MacDonald, the current CEO of Tekmar, will transition to an Executive Director role to facilitate the leadership change and contribute to the company's growth through both organic and M&A efforts. After six months, MacDonald will become a Non-Executive Director.

Additionally, Steve Lockard will assume the role of Chair, with Julian Brown returning to his previous position as Independent Non-Executive Director. Lockard brings 40 years of global operations and business development experience, notably transforming TPI Composites Inc. into a major wind blade manufacturer and leading its IPO on Nasdaq.

David Wilkinson, Senior Independent Director of Tekmar, stated that these changes are part of a strategic plan to stabilize the company and position it for sustained success, focusing on building a leading offshore wind services platform.

MacDonald expressed confidence in Tekmar's future, highlighting the company’s progress and robust commercial foundation. Turner, the incoming CEO, conveyed his excitement about joining Tekmar, emphasizing the significant opportunities in the offshore energy markets and the solid state of the business under MacDonald’s leadership.
These strategic leadership changes aim to drive Tekmar’s next phase of growth and enhance value creation for shareholders.

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Tekmar Group announces CEO appointment and board changes

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