CT Automotive Group PLC
("CT Automotive" or
the "Group")
Directorate
Change
CT Automotive, a leading designer,
developer and supplier of interior components to the global
automotive industry, today announces that Anna Brown
has tendered her resignation as CFO of the Group.
Anna will remain the Group CFO and Board member
until 24 December 2024 and, alongside Salman Mohammed, Group
Finance Director, will continue to be focused on running the
Group's finance function, including the publication of the 2024
interim results in September. Anna is leaving the Company in order
to pursue career opportunities beyond CT Automotive.
A search process to select Anna's successor
will commence immediately.
Simon
Phillips, Chief Executive Office, said, "On
behalf of all the Board I would like to thank Anna for all her hard
work and her considerable contribution to the Group's turnaround. I
know she will make sure the transition process for her successor is
smoothly executed and we all wish her good fortune for the
future."
Enquiries:
|
CT
Automotive
Simon Phillips, Chief Executive
Officer
Anna Brown, Chief Financial Officer
|
Via
Novella
|
|
Liberum (Nominated
Adviser and Broker)
Richard Lindley
|
Tel: +44 (0)20 3100
2000
|
|
Novella
Communications (Financial Public Relations)
Tim Robertson, Claire de Groot, Safia
Colebrook
|
Tel : +44 (0)20 3151
7008
ctautomotive@novella-comms.com
|
Notes to editors
CT Automotive is engaged in the
design, development and manufacture of bespoke automotive interior
finishes (for example, dashboard panels and fascia finishes) and
kinematic assemblies (for example, air registers, arm rests,
deployable cup holders and storage systems), as well as their
associated tooling, for the world's leading automotive original
equipment suppliers ("OEMs") and global Tier One
manufacturers.
The Group is headquartered in the UK
with a low cost manufacturing footprint. Key production facilities
are located in Shenzhen and Ganzhou, China complemented by
additional manufacturing facilities in Mexico, Türkiye and Czechia.
CT Automotive's operating model
enables it to pursue a price leadership strategy, supplying high
quality parts to customers at a lower overall landed cost than
competitors. This has helped the Group build a high-quality
portfolio of OEM customers, both directly and via Tier One
suppliers including Forvia and Marelli. End customers include
volume manufacturers, such as Nissan, Ford,
GM and Volkswagen Audi Group, and premium luxury car brands such as
Bentley and Lamborghini. In addition, the Group supplies all
our customer base with a range of products for PHEV and BEV
platforms and supplies electric car
manufacturers, including Rivian and a US based major EV
OEM.
The Group currently supplies
component part types to over 57 different models for 22 OEMs. Since
its formation, the Group has been one of the very few new entrants
to the market, which is characterised by high barriers to
entry.