AB Dynamics PLC Directorate Change
RNS Number : 8924D
AB Dynamics PLC
01 July 2021
1 July 2021
AB Dynamics plc
("AB Dynamics" the "Group" or the "Company")
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and
supplier of advanced testing systems and measurement products to
the global automotive market announces that, following an extended
leave of absence on health grounds, Tony Best has notified the
Board of his desire to retire and step down from the role of
non-executive Chairman, with immediate effect.
On return from his leave of absence, Tony will be appointed as a
Special Advisor to the Board, providing ongoing advice and
expertise in engineering and the automotive sector. Tony founded
the business in 1982 and joined the Board on IPO in 2013, when the
Group was admitted to AIM. Under his chairmanship, the Group has
grown substantially, both organically and through acquisition, and
has developed into a market leading technology and engineering
group of companies with strong growth prospects. The Board extends
its sincere thanks to Tony for his significant contribution to the
development of the Group and wishes him well on his retirement.
As part of its succession planning, the Board is pleased to
announce that Richard "Dick" Elsy, a Non-Executive Director of the
Group, who has been acting non-executive Chairman during Tony's
absence, has been appointed as non-executive Chairman. Dick will
become Chair of the Nomination Committee and Richard Hickinbotham
will become Chair of the Remuneration Committee, both with
Dick Elsy is also a Non-Executive Director at AWE plc, and a
member of the Council of UKRI-STFC.
Dick Elsy, Chairman, said:
"I'm delighted to have been appointed non-executive Chairman of
the Group to build on the solid foundations that Tony has created.
I wish him all the very best in his retirement and will value
having access to his knowledge and experience as a Special Advisor.
This is a very exciting time for the Company as we pursue growth
from our strong technology portfolio and through targeted
acquisitions. I'm looking forward to working with my very capable
board colleagues to exploit the value of Tony's legacy".
Commenting on his retirement, Tony Best said:
"It has been an extraordinary and exciting journey from founding
AB Dynamics as a small consultancy company nearly forty years ago
and overseeing its growth into the global technology and
manufacturing business it is today. I'm hugely proud of our
achievements but I feel that the time is now right for me to step
back from an active role. It is a testament to our leadership team
that the Group has emerged from the huge challenges of the past
year in better shape than ever, and I very much look forward to
being able to continue to offer the benefit of my experience to the
Board as the business continues to develop. Everyone at AB Dynamics
has my best wishes for the future and I am confident the Group will
go from strength to strength."
AB Dynamics plc 01225 860 200
Dr James Routh, Chief Executive Officer
Sarah Matthews-DeMers, Chief Financial
Peel Hunt LLP 020 7418 8900
Tulchan Communications 020 7353 4200
James Macey White
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) ("MAR") prior to its release as part
of this announcement and is disclosed in accordance with the
Company's obligations under Article 17 of those Regulations.
The person responsible for arranging the release of this
information is Felicity Jackson, Company Secretary.
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(END) Dow Jones Newswires
July 01, 2021 09:01 ET (13:01 GMT)
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