Patrick Lyle Young re-joins Valereum’s Board of Directors
Changes at the top of Gibraltar-based technology group Valereum Plc continue.
After announcing the resignations of Jack Sun and Richard Poulden, the company has announced appointments to the board.
Patrick Lyle Young has re-joined the Company’s board of directors with immediate effect. Formerly serving as an Executive Director, Mr Young will take the position of Chief Executive Officer as the company restructures and discerns a path forward.
Patrick Lyle Young stated:
“I welcome the opportunity to return to Valereum and thank James Formolli for the invitation to rejoin the Company. I wish to acknowledge the incredible outpouring of shareholder support this week which has been truly overwhelming. Now we must concentrate on rebuilding and driving forward shareholder value with a new strategy which delivers a “win-win” for our home territory of Gibraltar as well as for all stakeholders.”
Patrick Lyle Young is currently a director of Project Vistula Sp z o.o., DV Advisors Ltd, Revolution Market Capital Ltd and ECA Ltd. Patrick Lyle Young was on the board of Valereum PLC from July 2021 to earlier this month.
Additionally, Valereum today announced that Peter Sekhon will also join the board as an Executive Director with immediate effect and will be focusing on improving investor relations with the diverse and highly supportive shareholder base of the Company.
Peter Sekhon has extensive experience at Lloyds Banking Group, participating in investment operations management. His expertise extends to risk assessment, stakeholder engagement, and compliance across a range of financial and business initiatives. He has also been responsible for the delivery of a wide number of transformation and migration projects within the Financial Services sector.
Peter Sekhon is currently the director of PS Consulting Solutions Ltd.
Furthermore, at the request of James Formolli, Gary Cottle has agreed to take up the position of advisor to the company. Gary Cottle, an experienced financial services professional with over 30 years of experience has built and managed several global capital markets businesses. In his last position he managed a range of 3rd party exchange investments for Nomura and he will play a key role as we re-focus the business.
Valereum also announced that Alan Gravett has agreed to remain in his current role as a Non-Executive Director and will not be resigning.