AIM-listed Smart Metering Systems (SMS), which installs and manages smart meters and carbon reduction assets to facilitate effective energy management, has announced Willie MacDiarmid, the current Non-Executive Chairman, will step down from the Board and as Non-Executive Chairman immediately following the Group’s next Annual General Meeting in June 2020, after six years in the role.

Miriam Greenwood, the current Senior Independent Non-Executive Director, will succeed Willie as Chairman after the AGM. Miriam has been a Non-Executive Director of SMS since 2014.

Graeme Bissett will become the Senior Independent Non-Executive Director after the AGM.

Smart Metering Systems has also appointed Jamie Richards as a Non-Executive Director with immediate effect.

Richards will Chair the Remuneration Committee following the AGM and will also join the Audit and Risk, the IT, the Nominations and the newly-established Health and Sustainability Committee. The latter committee will be chaired by Miriam Greenwood.

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Richards is a chartered accountant and has 25 years’ experience in fund management, banking and corporate recovery with a focus on the infrastructure and solar sector.

He was a partner and head of infrastructure at Foresight Group for 18 years. Previously, he worked at PwC, Citibank and Macquarie, both in London and Sydney.

His other current roles are as a Non-Executive director and audit committee chair for the investment trust US Solar Fund plc and as alternative Chairman of the investment committee of Community Owned Renewable Energy, an investment programme targeting UK solar farms for community ownership.

MacDiarmid said:”It has been a privilege to have chaired SMS over a period of sustained growth and this together with watching the development of the senior team has given me great personal satisfaction. The sale of a portfolio of our assets and the launch of an exciting strategic path for the Group means the AGM is an appropriate time for me to step down as Chair.

“I would like to thank Miriam, Alan and the wider Board for their support and wish the Group continued success.”

Greenwood added: “On behalf of the Board and everyone at SMS, I would like to thank Willie for his considerable contribution over the past six years. Throughout his tenure as Chairman he has provided the Board with wise leadership and strategic counsel.

“I would also like to welcome Jamie. He brings considerable expertise and experience in the infrastructure and solar sectors. It will be invaluable as we execute on our smart meter rollout programme and, importantly, look to grow our investment in carbon reducing assets to create value for all our stakeholders.”