Appointment of Duncan Palmer as Non-Executive Director to chair Audit and Risk Committee

Date: 2022-09-15

Venterra Group Plc, the offshore wind energy services business, today announces Duncan Palmer is to join its Board on 1st October 2022 as a Non-Executive Director and he will chair the Audit and Risk Committee in due course.

Duncan Palmer is an experienced chief financial officer of major international businesses listed in both the US and UK.

His career started with 20 years at Shell where he held various senior finance roles. In 2007 he was appointed Chief Financial Officer of Owens Corning (NYSE: OC), a leading global fibreglass manufacturer. Owens Corning is a major supplier of high-performance materials to wind blade manufacturers.

In 2012 he became Finance Director of RELX PLC, a FTSE30 provider of information-based analytics and professional data. In 2014 he took on the Chief Financial Officer role, initially at DTZ and subsequently Cushman and Wakefield (NYSE:CWK), a leading global commercial real estate services firm. He was responsible for post-merger integration and then led the company’s IPO in 2018 on the NYSE, raising $1billion in additional capital.

Having managed Cushman’s finances through the pandemic in 2020, Duncan retired in 2021. He lives in Chicago and is an Independent Director and Audit Committee Chair at Oshkosh Corporation (NYSE: OSK), the specialty vehicles business.

Duncan received his Master of Arts from Cambridge University and his Master of Business Administration from the Stanford Graduate School of Business. He is a Fellow of the Chartered Institute of Management Accountants.

Duncan joins Venterra’s group of independent and non-executive directors which comprises Chad Holliday, Vivienne Cox, Tove Feld and Alex Krueger.

Duncan Palmer said:

"I am excited to be working in the energy transition. Venterra’s focus on building an
offshore wind services champion is a unique proposition. I look forward to applying my
experiences from growing international businesses and transitioning a company to
public ownership.”

Ayman Asfari, Venterra’s Executive Chairman, said:

"We are delighted to welcome a finance leader of Duncan’s calibre onto our Board
where he joins a strong group of non-executive directors making a significant
contribution.

His depth of experience across all aspects of finance will be invaluable in providing the
highest levels of oversight to our finances, as we grow a global industrial business and
secure a stock market listing to help maintain our growth trajectory.”