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Kromek shares bolstered as it names industry veteran as chairman

Kromek shares added almost 6% on Monday as it appointed industry veteran and former government advisor Sir Peter Williams CBE as its chairman.

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Kromek said it had appointed industry veteran and former government advisor Sir Peter Williams CBE as its chairman

Kromek (LON:KMK) shares added almost 6% on Monday as it appointed industry veteran and former government advisor Sir Peter Williams CBE as its chairman.

He becomes a non-exec director with immediate effect and takes the reigns as chair at the  radiation detection specialist after the AGM next month.

The 70-year-old is currently chairman of the Daiwa Anglo Japanese Foundation, a UK-based charity to support closer links between Britain and Japan, and has been chairman and chief executive of Oxford Instruments (LON:OXIG).

He has advised the UK Government on science and education, conducting a review of primary mathematics in 2008 and in 2010, and was a member of the international review of the Intergovernmental Panel on Climate Change (IPCC) for the UN Secretary General.

Williams said today: "I am pleased to be joining Kromek at this exciting juncture. I feel I can contribute a great deal based on my significant sector experience and, in particular, my time at Oxford Instruments. I am impressed by the management team and the scale of the company's operations."

Lawrence Kinet, Kromek's interim chairman, added:  "Over the last six months, we have appointed a new broker, achieved progress in our new commercial markets and completed a successful fundraising, which is supported by our revolving credit facility with HSBC.

"As a result, the company is now in a stronger financial position, and we look forward to leveraging Sir Peter Williams' tremendous expertise and experience as we advance to the next stage of our development."

Kromek shares added 5.88% to 27 pence each.

Quick facts: Kromek Group PLC

Price: 23.8 GBX

AIM:KMK
Market: AIM
Market Cap: £82.02 m
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New Kromek chairman Sir Peter Williams excited by opportunity

Proactive Investors speaks to Sir Peter Williams, science and engineering veteran and newly appointed chairman of Kromek (LON:KMK). Williams, who has also been chairman and chief executive of Oxford Instruments (LON:OXIG), says he hopes to sharpen the commercial and strategic focus of the...

on 09/28/2015

2 min read