24 July 2019, London – Mayfair 101 portfolio company Accloud PLC (Accloud) today officially announced Priti Patel’s resignation as non-executive director of the company following her recent appointment as British Home Secretary.
Ms Patel, a British politician and Member of Parliament recognised for her strong political ties with India, was appointed Britain’s Home Secretary on 24 July 2019 as part of the newly-elected Boris Johnson Cabinet.
Ms Patel joined the Accloud Board of Directors in March 2019 to provide the company with strategic advice as the company prepared its launch of operations in India earlier this year.
Immediately, upon her appointment as Home Secretary and in line with normal practice, Ms Patel informed the Board of her resignation.
The Chairman of Accloud is Bob Wigley, Chairman of UK Finance.
Accloud CEO Ross James said: “Priti has made an immense contribution to Accloud during her time as a director, playing an important role in moving us towards achieving our vision of empowering millions of small-to-medium enterprises (SMEs) and micro-SMEs in India, allowing them to grow their businesses and prosper.
“While we are of course disappointed to lose her talent and insight from the boardroom, we wish her well in her very important new role.”
Mayfair 101 Managing Director, James Mawhinney, added: "Ms Patel's appointment to one of the highest-ranking positions in British Parliament demonstrates her political clout with world leaders and particularly those in the emerging markets that Britain is seeking to strengthen its ties with.
“We were delighted to have Ms Patel join the board of one of our key portfolio companies and equally delighted to wish her well in her new role."
Accloud is a technology firm focused on empowering SMEs through its cloud-based business services platform. The company has significant contracts with recognised joint-venture partners to deploy its platform to millions of contracted users in India over the next five years.
Mayfair 101 has worked closely with Accloud and its management team providing capital and services to assist with the company’s growth strategy.
A replacement for Ms Patel’s position on the Board is underway and will be announced in the coming weeks.