Global Technology (Glotec) today announced its CEO, Ray Leonard will be fulfilling the role of Chairman at the company until such time as a permanent candidate can be found.
Pat Moffett, Glotec marketing director says while the position is temporary he cannot say how long a period it will be before an alternate candidate will be appointed.
Moffett says the company is well aware that having a dual CEO/Chairman position is not viewed kindly in terms of corporate governance, but he believes the company has a very "balanced board" of non-executive and executive directors.
He says appointing another non-executive Chairman will be "the preferred route".
Leonard fills the position after the previous non-executive Chairman announced his retirement in January.
Glotec is currently trading in a closed period and Moffet says the market can expect year-end results to be announced next week.
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