Optare PLC Directorate Change (1567R)
November 15 2012 - 2:01AM
UK Regulatory
TIDMOPE
RNS Number : 1567R
Optare PLC
15 November 2012
Optare plc
(the "Company")
Directorate Change
The Company announces that Jim Sumner, will step down from the
Board and leave the company as a Director and CEO from 31 December
2012. Jim joined the Board in June 2009 with the objective of
managing the turnaround of the business. From a challenging
position, the Board believes that all the principal objectives of
that turnaround have been substantially achieved in terms of
restructuring, new factory investment, low carbon product
developments and refinancing. Jim now feels that the time is right
for him to move on and pursue other business interests.
The Board has commenced the process to find a permanent
replacement and will make a further announcement in due course. In
the interim, Per Gustav Nilsson (known as "PG"), a current
non-executive director, will assume the role of interim CEO whilst
the Board searches for a permanent replacement for Jim. PG has
considerable experience in the industry having held positions as
Managing Director of Scania CIS, followed by four years as Managing
Director of MAN Russia.
Glenn Saint will continue in his role as CTO and also act as
deputy CEO.
John Fickling, Chairman, commented, "I wish Jim all the very
best for the future. He has done an outstanding job in turning the
business around from what was an extremely difficult position back
in June 2009. We sincerely thank him for his unwavering leadership,
clear direction and total dedication."
For further information, please contact:
Optare plc Tel: 08434 873 200
Cenkos Securities plc Tel: +44 (0) 20 7397 8900
Stephen Keys/Camilla Hume
This information is provided by RNS
The company news service from the London Stock Exchange
END
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