Velocity Composites plc announced that Adam Holden has stepped down from his position as Group Finance Director and Company Secretary with immediate effect. He will leave the Company on 31 August 2023 and remains committed to the Group until his departure, providing an orderly handover. As a result, the Company has appointed Andrew Hebb as non-Board Interim Chief Financial Officer and Company Secretary with immediate effect.

Mr. Hebb was Velocity's non-Board Interim Chief Financial Officer and Company Secretary between November 2018 and August 2020. A qualified Fellow Chartered Management Accountant, Andrew has been a professional interim CFO for several AIM quoted and private companies across a range of sectors since 2009. Prior to that, as CFO, Andrew helped build Hedra Plc into a major public sector consulting business and managed the sale process in 2008.

He has held CFO and operational roles in other major UK companies. The Company will commence a process to identify and appoint a new Group Finance Director and Company Secretary shortly and further announcements will be made, as appropriate.