Chairman to leave Yü Group

Yü Group’s chairman Ralph Cohen has announced his retirement.

Cohen, who has held the position since the utilities supplier began trading on AIM in 2016, is to step down following a period of transition.

The company has also revealed two new additions to its Board.

Robin Paynter Bryant, who has over 30 years’ experience working in the City of London for a number of financial institutions, becomes non-executive chairman, while Tony Perkins joins as senior independent non-executive director.

Perkins previously held a number of senior management positions at BDO.

Cohen said: “I have been honoured to be Chairman of Yü Group, through the IPO and rapid development of the business, notwithstanding the challenges we have faced. I wish the Group, the Board and all stakeholders every success in the future.”

Bobby Kalar, chief executive officer of Yü Group, added: “I would like to thank Ralph for his support over the last four years, he leaves the Group in a much stronger position and I wish him all the best in retirement.

“Strengthening the Board as the Group embarks on its renewed phase of development is a strategic move building on the rapid maturity of the business over the past few years, and to further steer us to secure growth opportunities going forward. I am delighted to welcome Robin and Tony to the Board. The appointment of such high calibre individuals brings the necessary skills and strengths the Group requires to take the Company to the next stage of its evolution and complement the existing Board. I look forward to updating the market in due course.”