Ceres Power Holdings plc Appointment of Chairman and Board changes (5871P)
June 11 2020 - 1:00AM
UK Regulatory
TIDMCWR
RNS Number : 5871P
Ceres Power Holdings plc
11 June 2020
Ceres Power Holdings plc
Appointment of Chairman and Board changes
Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company")
(AIM: CWR.L), a global leader in fuel cell technology, announces
that in line with Board succession planning Alan Aubrey, Chairman
of the Company, is standing down and that Warren Finegold,
currently a Non-Executive Director, will succeed him as Chairman
with immediate effect.
Mr. Aubrey has served as Chairman of Ceres since December 2012
and will remain a Non-Executive Director to ensure a smooth
handover of responsibilities to Mr. Finegold. Mr. Aubrey will
retire from the Board on 28 September 2020, in accordance with good
corporate governance practice on Board tenure and in line with the
announcement of the Company's interim results. Robert Trezona, a
Non-Executive Director who has served on the Board of Ceres since
championing IP Group plc's investment into the business in 2012,
will also step down from the Board at this time.
Mr. Finegold joined the Board of Ceres in March 2020 as an
independent Non-Executive Director. In his career, he has spent
more than 20 years in Investment Banking and 10 years on the
Vodafone Group Executive Committee. He is also Senior Independent
Director of Avast plc. Mr. Finegold brings significant expertise in
global business development as well as strong board experience and
active knowledge of governance and regulatory matters.
On his appointment, Warren Finegold commented: "I am delighted
to succeed Alan Aubrey as Chairman. Ceres is an excellent business,
with a unique technology and a highly committed team of people. It
faces an enormous opportunity to provide fuel cell technology to
many industrial and domestic sectors at a time when the need for
clean energy has never been clearer to governments, industry and
consumers."
Alan Aubrey added: "Chairing Ceres has been a pleasure and a
rare opportunity to build a UK technology company making meaningful
strides in clean energy. I feel this is the right time to hand over
to a new Chair to take the Company through the next phase of its
growth. I am pleased we have someone of Warren's calibre and
experience to take on this role and I am sure he will enjoy working
with the Ceres management team. I wish Warren and the Board every
success for the future."
Phil Caldwell, Chief Executive of Ceres commented: "Alan and
Rob's contribution over the past few years has been instrumental in
building Ceres into a global technology business with world-class
partnerships. I am personally grateful to Alan for his unwavering
support for me and the wider business over the past seven years and
I know he will continue to follow Ceres' progress with interest.
Warren has already fitted into the Board with ease and I look
forward to working with him closely as we continue to build an
exciting future for Ceres. "
Ends
For further information visit www.cerespower.com or contact:
Ceres Power Holdings plc Tel: +44 (0)7932 023
Elizabeth Skerritt 283
Investec Bank PLC (NOMAD & Joint Tel: +44 (0)207 597 5970
Broker)
Jeremy Ellis / Patrick Robb
Berenberg (Joint Broker) Tel: +44 (0)203 207 7800
Ben Wright / Mark Whitmore
Powerscourt Tel: +44 (0)20 7250 1446
Peter Ogden / James White
About Ceres Power
Ceres is a world-leading developer of next generation solid
oxide fuel cell (SOFC) and electrochemical technology. Its
asset-light, licensing model has seen it establish partnerships
with some of the world's largest engineering and technology
companies, such as Weichai in China, Bosch in Germany, Miura in
Japan, and Doosan in South Korea, to develop systems and products
that address climate change and air quality challenges for
transportation, industry, data centres and everyday living. Ceres
is listed on the AIM market of the London Stock Exchange ("LSE")
(AIM: CWR) and is classified by the LSE Green Economy Mark, which
recognises listed companies that derive more than 50% of their
activity from the green economy.
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END
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