James Ritchie-Bland leaving Tekmar

Subsea protection specialist Tekmar said that James Ritchie-Bland has resigned as CEO and stepped down from the board.

James Ritchie-Bland

He plans to leave the business before the end of the current financial year.

Alasdair Macdonald (Ally), currently non-executive chairman of the Group, has assumed the role of executive chairman.

Tekmar noted that a formal process to recruit and appoint a new CEO will commence shortly.

Ritchie will remain in the business, working with Ally, until a new CEO is in place.

James was a founder of Tekmar Energy, established over 12 years ago, when he identified a global opportunity for subsea cable technology in offshore wind.

He led a management buy-out of Tekmar Energy in 2011, backed by Elysian Capital and the successful IPO and Admission to AIM seven years later.

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Under his leadership, the business has grown from a start up to a global technology business, delivering revenue in excess of £40 million, and employing over 200 people in 17 locations worldwide.

Alasdair Macdonald, executive chairman of Tekmar, said :

“On behalf of the board and everyone at the company, I would like to thank James for his unwavering commitment and outstanding contribution to the business over the last decade.

James Ritchie-Bland said :

“It is the right time for me to hand over the reins to Ally’s experienced hands and I am confident in the team’s ability take the business onto the next stage of its development.

“I look forward to following the Group’s progress, as a shareholder, and watching the business as it continues on its exciting growth trajectory.”