Hydrodec Group plc announced that following a year in which he has focused on the turnaround of the Group and the development of the closed loop utility strategy in the United States, Lord Moynihan has now reached the decision that it is time, after seven years as Chairman of the Company to step down from the Board and resign as a Director with immediate effect. He intends to pursue a number of new opportunities at the beginning of 2020 and will return to active involvement in the work of the House of Lords following the upcoming General Election. As a result, the Board has agreed to Lord Moynihan's request. Following this change, Chris Ellis, Chief Executive Officer, will with immediate effect carry out the additional role of Interim Executive Chairman and it is the Company's intention to appoint a suitable replacement candidate in due course.