Light Science Technologies Holdings plc (LSTH) appointed Dr Graham Cooley as Non-Executive Chairman and Richard Mills, previously a consultant to the Company, as Independent Non-Executive Director. Myles Halley and Robert Naylor have both stepped down from their respective roles as Non-Executive Chairman and Non-Executive Director. All changes are effective immediately.
The Board restructuring aims to further strengthen LSTH's ability to continue building strong product and sales pipelines, both domestically and internationally, positioning the Group to further enhance its prospects within its key growth markets, especially within the CEA division.
Dr Graham Cooley, Non-Executive Chairman
Dr. Cooley has over 35 years of experience in new technology introduction in the power, energy storage, and hydrogen sectors. He was previously Business Development Manager at National Power plc and CEO of ITM Power plc. Currently, he is a Non-Executive Director of Cadent Gas. Further, he is a founding member of the UK Government's Hydrogen Advisory Council and a Board Member of RenewableUK.
He is a deal maker with particular expertise in product and market strategy and has raised, and has also been an active investor in AIM-quoted UK cleantech companies for over a decade. He gained his PhD in Materials Physics from Brunel University and has several fellowship appointments. The Light Science team says: "Dr. Cooley's added value to the Board and Company will include corporate governance, commercial strategy, and deal-making."
Mr. Mills, a chartered management accountant, is the Managing Director of Haygrove Limited's Growing Systems Division, where he leads its polytunnel and growing systems business managing over 200 staff. His global CEA experience includes expanding Haygrove into new markets, from conceptualization, through planning and implementation, rolling new businesses out in China, Germany, and India.
Richard was a Senior Internal Auditor for a top 20 accountancy practice and an External Auditor at Ernst & Young. When working in a consulting capacity for LSTH, he was tasked with enhancing growth in the pipeline of international CEA opportunities. The Light Science team says: "Mr. Mills lends significant expertise to the Board and Company, which will be of particular benefit in CEA and technologies markets, strategic and market positioning, and as a Chairman of the Audit and Remuneration Committees."
Simon Deacon, Chief Executive Officer of LSTH, commented: "The addition of Graham and Richard to the Board significantly enhances our industry expertise, strengthening our credentials as changemakers. Their passion for our goals is evident, and we're delighted to welcome them. I'd also like to take this opportunity to give my sincere thanks to Myles and Robert, who both played substantial roles in helping the Group to get to where it is today, and wish them all the best in their respective retirement and future endeavors.
"As a Group, Light Science has never been better placed to play its part in addressing these issues. Our CEA offerings are more diverse and mature and are now underpinned by the cash-generating CEM division and near-term cash-generative PFP division, building agility and robustness into the business model. With this Board restructure, I have no doubt that the Group is significantly better placed to execute its growth plans."
Dr Graham Cooley, incoming Non-Executive Chairman of LSTH, commented: "I'm a huge believer in the Light Science vision and am delighted to be joining the team. I believe that the cost, carbon footprint, and security of the supply of food will be core global issues in the coming years. Light Science has developed the right products at the right time and is well-positioned to take a significant share of this huge market. I am also very impressed by the recent steps that management has taken to prioritize cash generation to set a strong foundation for the future."
Richard Mills, incoming Non-Executive Director of LSTH, commented: "The Light Science proposition is clear and strong. There are several factors that, in the coming years, will force us to change the way we look at food production. Many parts of the earth are now facing food and water shortages, with increasingly more regions at near-term risk. Governments are now looking towards policies to encourage sustainable and efficient growing methods. Socially, scrutiny of the effect of food production on climate change has never been higher, and there is growing consensus on the need to transition away from reliance on processed foods."
For more information:
Light Science Technologies
www.lightsciencetech.com