Oracle Power PLC (LON:ORCP) has appointed Mark Steed as its new interim chairman to replace Anthony Scutt, who will return to his role as senior independent director.
Oracle is working towards the financial sign-off of its Thar thermal power station project in Pakistan and said it would appoint a permanent chairman once that process concludes.
READ: Oracle Power submits power plant proposal to regulator in Pakistan
The composition of the rest of the board will also be looked at once financial close occurs.
In November, the company signed a MoU with Sichuan Provincial and PowerChina ahead of a formal agreement to build and operate the Thar project.