Sondrel names John Chubb as next CEO

22nd May 2024 11:13

(Sharecast News) - Turnkey services provider Sondrel revealed on Wednesday that John Chubb had been nominated as chief executive officer-designate, succeeding interim CEO David Mitchard.

Chubb, who currently serves as senior responsible officer Core Delivery at Defence Equipment & Support within the UK Ministry of Defence, was said to be "a highly experienced" CEO, having run businesses in IT, communications, energy and construction, both domestically and across Europe.

Mitchard will assume the position of chairman upon completion of Sondrel's proposed subscription to raise £5.6m, whilst also remaining in the role of interim CEO until Chubb joins on 18 July 2024 and an orderly handover period has been completed.

Chairman Nigel Vaughan said: "On behalf of the board, I'd like to thank David for his contribution to Sondrel since he assumed the position of interim chief executive in March. During this period, David has successfully implemented key elements of our transformation plan and, thanks to his hard work, the group is now on a stable footing. John has a long track record of delivering positive results for stakeholders and his wealth of experience will be invaluable."

As of 1110 BST, Sondrel shares were down 3.20% at 6.05p.

Reporting by Iain Gilbert at Sharecast.com