Appointment of New Director
31 May 2023
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
Appointment of New Director
The Board of Octopus Renewables Infrastructure Trust plc is pleased to announce the appointment of Sarim Sheikh as an independent Non-Executive Director of the Company with effect from 1 June 2023.
Mr Sheikh has more than 25 years' experience of working in the energy sector across Europe, Latin America, Africa, and Asia. He started his career with Shell in 1995, rising to Chair and CEO of Shell Pakistan Limited, a Pakistan Stock Exchange-listed company with a turnover of US$2.8bn in 2011. In 2012 he joined General Electric (GE), as President and CEO for the Central Asia Region, and served as Chief Growth Officer for the Middle East, North Africa, and Turkey, working across energy, transportation, and healthcare. Within his energy remit, his experience included participating in new generation bids, power fleet asset performance, complex project execution, and developing and implementing a regional wind investment case. In 2019 Mr. Sheikh became Chief Operating Officer for GE Offshore Wind, helping scale up the business after its acquisition by and integration into GE.
He has deep expertise in energy markets and technology, including onshore and offshore wind, solar, hydro, and biomass from various commercial, business development, and operational roles.
Mr. Sheikh has served as a chair and non-executive director on boards of listed, non-listed and non-profit companies. Whilst at GE he received the ´Chairman's Leadership Award´ and under his leadership, Shell Pakistan Limited was awarded the Pakistan Stock Exchange's "Top Companies Award" for corporate governance, financial performance, shareholder value, and sustainability. Mr Sheikh holds an MBA from London Business School.
Phil Austin, Chair of the Company, said: "On behalf of all the Directors, I am delighted to welcome Sarim to the Board and we very much look forward to working with him. Sarim has extensive experience in the industry, including particular expertise in offshore wind, and a strong desire to accelerate humanity's transition towards net zero. I have no doubt that he will be an extremely valuable member of the Board".
Upon appointment, Mr Sheikh will be a member of all Board committees. Mr Sheikh does not currently hold any shares in the Company. There is no information to be disclosed in respect of paragraphs 9.6.13(2) to 9.6.13(6) of the Financial Conduct Authority's Listing Rules.
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About Octopus Renewables Infrastructure Trust
Octopus Renewables Infrastructure Trust ("ORIT") is a closed-ended investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia. ORIT's investment manager is Octopus Energy Generation.
Further details can be found at www.octopusrenewablesinfrastructure.com