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HydroDec CEO Smale Leaves "By Mutual Agreement", CFO Promoted

Fri, 04th Dec 2015 08:30

LONDON (Alliance News) - HydroDec Group PLC on Friday said Chief Executive Ian Smale has left the company "by mutual agreement" with immediate effect.

The company, a clean-technology industrial oil re-refining company, said Chris Ellis, currently its chief financial officer, will become acting chief executive, in addition to his existing roll in the near-term.

HydroDec said, however, it will hire a new chief financial officer as Ellis takes on the CEO responsibilities.

Shares in HydroDec were up 2.0% to 4.4625 pence early Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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