Mr Cole who is currently Koyal Group’s Director of Private Equity has worked with the company for almost 10 years, and has been nominated as a potential candidate to replace Mr Edward Neilson as Chief Executive Officer when he retires in 2014. It is therefore no surprise to employees at Koyal Group that he should be appointed to the board of directors at this time.

Mr Cole game comment on his appointment saying “this is a tremendous honour for me, I am delighted to have been given this position in recognition of my efforts and I'm proud to say I look forward to seeing out the remainder of my career with Koyal Group both in my capacity as Director of Private Equity and on company’s board of directors”.

As a Non-Executive Director Mr Cole will have a minimal role in the board room administration of Koyal Group, and will continue to direct Koyal Group’s private equity department, but according to Mr Edward Neilson, he has been shortlisted for the position of Chief Executive Officer.

Chief Executive Officer Mr Edward Neilson went on to say “Stephen is one of our brightest and most able and he has more than earned his position within our board of directors, so I am thrilled to welcome him to our team and whilst premature I will also say I would feel comfortable to leave next year were he to be appointed as Chief Executive Officer in my stead.”

The appointment of Mr Stephen Cole as Non-Executive Director will take effect as of Monday 10th June 2013.