Volta Finance Ltd (LON:VTA) has announced that Ms Joanne Peacegood, who joined the Board in July 2023, will succeed Mr Steve le Page as Chair of the Audit Committee with effect from 1 May 2024.
Steve Le Page joined the Board in October 2014, and so by the time of the 2024 Annual General Meeting he will have served for ten years. The other members of the Board, who have an average tenure of two years, consider Steve to be independent under all the criteria set out in the UK Corporate Governance Code except for that in respect of tenure. Consequently, they are supportive of his re-election to the Board at the forthcoming AGM, and would cite the following reasons for that support –
1. The average tenure of the Board including him is four years
2. They consider changing the entire Board in the course of only four years to be inadvisable
3. His long experience with Volta Finance will be valuable in the context of the refresh of its brand and marketing.
Unless there is a development beyond the Board’s control, Steve will not stand for re-election in 2025.
