Ralph Cohen, Chairman of the Board of Yü Group, the Nottingham-based supplier of utilities to the UK corporate sector, is stepping down from his role, leaving the position he has held since the Group was admitted to trading on AIM in 2016.
The news comes alongside the following appointments to the company’s Board with immediate effect.
Robin Paynter Bryant joins the Board as Non-Executive Chairman. Robin has over 30 years’ experience working in the City of London for a number of financial institutions, having joined Hill Samuel & Co. Ltd in 1983 to work on asset, liability and treasury risk management for utility and large companies. He has a strong background in regulation, compliance and corporate governance and advised companies such as Severn Trent Water Plc, Endesa SA, Italgas SpA and Centrex European Energy & Gas AG. From 2012 to 2016 Robin was a Non-Executive Director of the UK Water Economic Regulatory Authority, OFWAT.
Tony Perkins meanwhile joins the Board as senior independent Non-Executive Director. Tony has had a long career at accountants BDO where he was appointed a partner in 1990, having joined in 1980. He has acted for many fully listed and AIM companies in the professional services, natural resources, technology, manufacturing and retail sectors. He has extensive experience in financial, governance and risk management and has advised on corporate strategy, transactions and expansion of businesses in the UK and internationally. Tony has held senior management positions at BDO as a member of the firm’s Leadership Team including Head of its London Operations and National Head of Audit.
Commenting on his departure, Ralph Cohen said: “I have been honoured to be Chairman of Yü Group, through the IPO and rapid development of the business, notwithstanding the challenges we have faced. I wish the Group, the Board and all stakeholders every success in the future.”
Bobby Kalar, Chief Executive Officer of Yü Group, said: “I would like to thank Ralph for his support over the last four years, he leaves the Group in a much stronger position and I wish him all the best in retirement.
“Strengthening the Board as the Group embarks on its renewed phase of development is a strategic move building on the rapid maturity of the business over the past few years, and to further steer us to secure growth opportunities going forward. I am delighted to welcome Robin and Tony to the Board.
“The appointment of such high calibre individuals brings the necessary skills and strengths the Group requires to take the Company to the next stage of its evolution and complement the existing Board. I look forward to updating the market in due course.”