Summit Germany Limited announced that Tim Parkes will step down as a Director of the company with effect from 31 December 2014. The company announced the appointment of Mr. Christopher Spencer to replace Mr. Parkes as a Non-Executive Director of the company with effect from 1 January 2015. Mr. Spencer has also been appointed as Chairman of the company's Audit Committee.

Mr. Spencer, who specialised in audit and fiduciary work, was Managing Partner/Director of Pannell Kerr Forster (Guernsey) Limited from 1990 until his retirement in May 2000. Mr. Spencer is a member of the AIC Offshore Committee, a past President of the Guernsey Society of Chartered and Certified Accountants and a past Chairman of the Guernsey Branch of the Institute of Directors.