The chief executive of hydrogen firm ITM Power (AIM: ITM) it to step down after more than a decade in the role.
During his 13 years at the helm, Graham Cooley led the Sheffield-based electrolyser manufacturer through a period of “very significant growth and development”.
A process to find a replacement CEO is underway, and Mr Cooley will remain in charge at ITM Power until a successor is appointed.
Thereafter he will assume a senior strategic role in the company.
ITM has placed on record its “enormous gratitude and respect” for My Cooley’s leadership over the years.
And the board has expressed its delight that the company will “continue to benefit from his immense experience and expertise” in the hydrogen sector.
Mr Cooley said: “It has been a privilege to lead ITM Power through its transition from an R&D business to a world leading electrolyser manufacturing company. As we seek to become a global manufacturing powerhouse, now is a good time for me to step aside and hand over to someone with more experience in this area.
“The whole team at ITM Power has been a pleasure to work with and I look forward to working with a new CEO and continuing my involvement with the Group.”
Sir Roger Bone, chairman of ITM Power, said: “Graham’s contribution to this Company’s growth, over many years, is immeasurable. We are pleased that he has agreed to remain with the Company in a strategic role so that we may continue to benefit from his knowledge, wisdom, experience and relationships.
“On behalf of the Board, all of ITM Power’s staff and shareholders, I thank him for his efforts and vision in helping to create the business we are today.”
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