TIDMCNC

RNS Number : 2860Y

Concurrent Technologies PLC

12 May 2021

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain

12 May 2021

Concurrent Technologies Plc

Board Changes

Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the design and manufacture of high-performance embedded computer boards for critical applications, is pleased to announce the appointment of Dr Miles Adcock as Chief Executive Officer and as an executive director of the Company with effect from 21 June 2021.

The Company also announces today that Jane Annear, Managing Director, has given notice of her retirement after 36 years of outstanding service to the Company. Jane will work to support Miles in her remaining time with the Company in order to ensure an orderly transition and will continue as an executive director of the Company during that time.

Dr Miles Adcock is currently President of Space Imaging at Teledyne Technologies Inc. Prior to joining Teledyne, Miles held senior roles at QinetiQ Group plc including as Managing Director of its Cyber, Information & Training business unit and as Group Engineering Director. He has previously worked at BAE Systems and GEC Marconi. A Chartered Engineer and a Chartered Physicist, he received his PhD in Adaptive Optics from Imperial College, London.

Mark Cubitt, Non-executive Chairman of Concurrent Technologies, commented:

"We are delighted to welcome Miles as Chief Executive Officer of Concurrent Technologies. His experience in growing international based technology companies will help drive forward the Company to take the next steps in our development as a leading player in the high performance embedded market. It is also important we recognise today the significant role Jane has played in the growth of the Company, which she has served since she joined as our second employee on incorporation in 1985."

Dr Miles Adcock commented:

"I am very pleased to take up this role. Concurrent Technologies is a fantastic organisation. We have great people and technological capabilities and a competitive customer offering. I look forward to leading Concurrent Technologies in its next phase of growth and creating value for all our stakeholders."

Jane Annear, Managing Director, commented:

"It has been a privilege to lead the team at Concurrent Technologies for the last 2 years and I would like to thank all of our employees for their commitment and support during that time. I am pleased to welcome Miles to the role of Chief Executive Officer in a new and exciting era for the Company."

Enquiries:

 
Concurrent Technologies Plc 
 Jane Annear, Managing Director     +44 (0)1206 752626 
 
Newgate (Financial PR) 
 Bob Huxford                        +44 (0)20 7653 9848 
 Isabelle Smurfit                   +44 (0)20 3757 3411 
 
Cenkos Securities Plc (NOMAD) 
 Neil McDonald                     +44 (0)131 220 9771 
 Peter Lynch                       +44 (0)131 220 9772

The following information regarding the appointment of Dr Miles Adcock (aged 48) is required to be disclosed under Schedule 2(g) of the AIM Rules for Companies:

 
 Full Name:                Miles John Adcock 
 Current Directorship /    South East LEP Limited 
  Partnerships:             Teledyne e2v Ltd 
                            Teledyne UK Limited 
 Previous Directorship /   BJ Trustee Limited 
  Partnerships:             Bolden James Limited 
                            Cuesim Limited 
                            Gyldan 11 Limited 
                            Leading Technology Limited 
                            Qinetiq Special Project Inc.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.

Note to Editors:

About Concurrent Technologies Plc

Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high performance, long life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel(R) processors, including the latest 9th generation embedded Intel(R) Core(TM) processors, Intel(R) Xeon(R) and Intel Atom(R) processors. The products are designed to be compliant with industry specifications and support many of today's leading embedded Operating Systems. The products are sold world-wide.

For more information on Concurrent Technologies Plc and its products please visit www.gocct.com.

All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.

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