Directorate Change

RNS Number : 4253P

AB Dynamics PLC

13 February 2019

 

13 February 2019

AB Dynamics plc

("ABD" or the "Group")

Directorate Change

AB Dynamics plc (AIM: ABDP) the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces that Robert (Rob) Hart has informed the Company of his decision to step down as Chief Financial Officer ("CFO") and from the Board. 

The Board has commenced a formal recruitment process for his successor.  Rob will continue to serve as CFO and remain a director of the Company until 31 July 2019. A further announcement on the transition will be made nearer the time.

Tony Best, Chairman of AB Dynamics, commented: "Rob has played a significant role in the growth of ABD and, on behalf of the Board and colleagues, I would like to thank him personally for his contribution to the business.  Rob joined the Company in 2008 and has supported us through our successful IPO in 2013 and more recently as we have diversified our product set to take advantage of the significant opportunities in ADAS testing and simulation. I, together with other members of the Board, wish him well for the future."

Rob Hart, said: "I am very proud of the team's tremendous success during my time at AB Dynamics; it has been a privilege to be part of it. The Group has many opportunities and an exciting future ahead of it however this is the right time for me to explore new professional challenges.  I would like to thank my colleagues, Board and shareholders for their support throughout my time and wish the Group every success for the future. I remain fully committed to ensuring the continued success of AB Dynamics whilst my successor is sought and during an orderly handover."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

AB Dynamics plc	01225 860 200
Tony Best, Non-Executive Chairman Dr James Routh, CEO
Cairn Financial Advisers LLP (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Richard Nash
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies David Foreman
Tulchan Communications (PR)	0207 353 4200
James Macey White Matt Low Deborah Roney

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. ABD is headquartered in Bradford-on-Avon employing approximately 180 staff. ABD currently supplies all of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test Advanced Driver Assistance Systems ("ADAS"), autonomous vehicles, vehicle safety and dynamics.

 

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