Reshuffle at the top of wave energy firm Aquamarine

By SCOTT REID
Published on 02/07/2012 00:00

Wave energy developer Aquamarine Power has replaced its chairman of five years’ standing and also appointed a new non-executive director.

The Edinburgh-based firm, which recently began operational testing of its second-generation Oyster wave energy machine, said Paul Capell would take up the chairman’s post. He replaces Mervyn Jones, who has served as the company’s chairman since 2007.

Described as an “experienced chief executive and chairman”, Capell is said to have a 30-year track record in “starting, acquiring, building and exiting successful international businesses in the UK and overseas”. He served for ten years with engineering group Weir.

Aquamarine has appointed John Malcolm, who served for 25 years with Royal Dutch Shell in a number of senior roles, to its board as a non-exec.

Chief executive Martin McAdam said: “Paul and John bring a winning combination to the table at Aquamarine Power. It’s a combination which will prove invaluable as we enter the next exciting phase in our journey towards commercialisation.”