Velocity Composites plc announced that Rob Soen, Non-executive Director, will be stepping down from the Board on 31 October 2022, to focus on his other business interests. Mr. Soen will continue to act as an advisor, helping with Velocity's commercial and supply chain strategy as the Company grows. Annette Rothwell, Non-executive Director, will replace Rob as Chair of the Remuneration Committee.

Furthermore, David Bailey will become Chair of the newly created Sustainability Committee to support the Company's work in helping customers meet their global ESG targets.