Braemar Shipping Services plc (LSE: BMS), a leading international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries, announces that its Chairman, David Moorhouse CBE, has advised Braemar that after nearly 14 years as a Non-Executive Director, the last three as Chairman, he wishes to retire with effect from 31 December 2018. David has also advised of his willingness to serve longer, if required, to facilitate the appointment of a suitable replacement. His retirement is part of a planned reduction in his business workload to facilitate his participation in another venture.
The Company’s Nominations Committee is leading the process to appoint a new non-executive Chairman and an announcement will be made in due course.
David Moorhouse commented: “It has been a privilege to serve Braemar and its shareholders since 2005, during which time the Group has developed substantially and undergone significant changes, becoming a global leader in the provision of broking and advisory services to the maritime industry. I believe that this is an appropriate stage in the Company’s development for me to hand over to a new Chairman.”
James Kidwell, Chief Executive of Braemar, commented: “David has been a wonderful servant of the Group for many years and we have benefited greatly from his invaluable advice and broad industry knowledge. I have especially appreciated his steadfast leadership as Chairman of the Group over the last three years and, on behalf of the Board, wish David well for the future.”
For further information, contact:
Braemar Shipping Services: +44 (0) 20 3142 4100
James Kidwell, Chief Executive
James Hayward, Interim Finance Director
Peter Mason, Company Secretary
Stockdale Securities: +44 (0) 20 7601 6100
Robert Finlay / Antonio Bossi, Corporate Finance
Henry Willcocks / Fiona Conroy, Corporate Broking
Buchanan: +44 (0) 20 7466 5000
Charles Ryland / Stephanie Watson / Tilly Abraham
Notes to Editors:
About Braemar Shipping Services plc
Braemar Shipping Services plc is a leading international provider of knowledge and skill-based services to the shipping, marine, energy, offshore and insurance industries. Founded in 1972, Braemar employs approximately 800 people in more than 70 locations worldwide across its Shipbroking, Technical, Logistics and Financial divisions.
Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.