Korvest Ltd. advised that Mr. Graeme Billings has resigned as Chairman and Director of Korvest, effective from 31 August 2021. Mr. Billings joined the Board in May 2013, initially as the Chairman of the Audit Committee. Mr. Billings will be succeeded as Chairman by Mr. Andrew Stobart. Mr. Stobart joined the Korvest Board in August 2016. Mr. Stobart has significant experience in the industrial markets serviced by Korvest. He is a former Managing Director /Chief Executive of Olex Holdings Pty Ltd. and led the divestment of the then Pacific Dunlop owned cable business in a management buy-out and subsequently its sale to Nexans SpA. Under Nexans ownership he held the role of Executive Chairman of Nexans Olex Australia & New Zealand which he retired from in February 2020.