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AFC Energy announces departure of finance chief

Industrial fuel cell power business AFC Energy announced on Friday that Richard Tuffill, the Surrey-based group's chief financial officer, would be leaving the company at the beginning of March.
Citing personal reasons, Tuffill decided to step down from the role upon the completion of AFC's audit process for its trading year ended 31 October 2017.

AFC applauded Tuffill for providing "valuable support" to the firm since joining in 2016 and noted that he planned to assist the AIM-listed company in its search for his replacement in order to ensure a smooth handover of responsibilities.

John Rennocks, chairman of AFC Energy, said, "I would like to thank Richard for his contribution to AFC Energy's progress and on behalf of all the Board and management, wish him very well for the future."

Tuffill himself added, "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."

AFC told investors earlier in January that it had seen "very significant improvements" to its fuel cell system throughout the fourth quarter of its most recent trading year, adding that it now believes the system had demonstrated a platform for future commercial deployment, with projected performance ahead of objectives laid out at the beginning of the year.

As of 0840 GMT, shares had lost 1.07% to 11.97p.

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