AN energy consultancy founder is stepping down from its board of directors.

Geoff Thompson will leave his role as non-executive chairman at Utilitywise at the firm’s next annual general meeting.

Mr Thompson, who founded the North Tyneside firm, known for helping organisations manage water bills and gas and electric tariffs, in 2006, will be replaced by senior independent director Simon Waugh, who lists senior positions with Centrica and British Gas on his CV.

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“On behalf of the board and everyone at Utilitywise, I would like to thank Geoff for all that has been achieved under his stewardship.

“He built a significant business, which now employs around 1,500 people across multiple markets, both in the UK and internationally.”

Further board changes will see non-executive director Kathie Child-Villiers replace Mr Waugh, while non-executive director Jeremy Middleton has stood down from the board with immediate effect.

A date for Utilitywise’s annual general meeting has yet to be confirmed.

The business last month revealed it had pushed back a financial results announcement to carry out a review.

Bosses appointed a third-party accounting firm to assess its ways of estimating usage levels on live contracts.

They added the move followed a request from auditor BDO.

Earlier this year, Utilitywise revealed it would repay a supplier £7.6m following lower-than-expected usage levels.

However, officials played down any long-term impact on the business’ future.