Fuel cell specialist AFC Energy PLC (LON:AFC) has started a search for a new chief financial officer as Richard Tuffill will be leaving at the end of March this year for personal reasons.
"Richard has provided valuable support to AFC Energy since joining and has strengthened the financial, reporting and internal controls at the company with a continued strong emphasis on cash preservation and governance," the company said in a brief statement.
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"Richard will continue to support the company during its search for a replacement and to ensure a smooth handover of responsibilities. A search has been initiated for a successor, which we plan to have in place for when Richard departs."
Tuffill, who is also company secretary, will leave after the completion of the firm's audit process for the year to October 31, 2017.
He said: "I have thoroughly enjoyed working at AFC Energy over the past 15 months. The company has made significant technical and commercial progress in recent months and I wish them every success in the future."
Earlier this month, the group told investors that the quarter ended December 31 was important as the company “achieved very significant improvements” for its fuel cell system.
It said it now believes the system has demonstrated a platform for future commercial deployment, with the projected performance ahead of objectives set in 2017.