Appointment of New Chief Executive Officer

RNS Number : 5683M

Ceres Power Holdings plc

18 August 2011

 



18 August 2011

Ceres Power Holdings plc

("Ceres", "Ceres Power" or "the Company")

David Pummell appointed as CEO of Ceres Power

The Board of Ceres Power (AIM: CWR.L) is pleased to announce the appointment of David Pummell as Chief Executive Officer. He will take up the post on 5 September 2011.

From 2008 to April 2011, David was Chief Executive Officer of MAPS Technology Ltd, which designs, develops and manufactures non-destructive testing equipment using unique stress management technology. David developed the company from an early-stage technology venture into a commercially successful business selling high value engineered products and services  into multiple industrial sectors, including energy. As part of this growth, he delivered strategic partnerships in the oil and gas, aerospace and transport sectors securing the company's commercialisation plan. David successfully oversaw the acquisition of MAPS Technology by the General Electric Company, in April 2011.

Prior to joining MAPS, David held a number of senior executive roles at BP. These included leading the European fuels and lubricants marketing business, directing the restructuring of BP's global refining and marketing businesses and setting up a new fuels and lubricants business in the Middle East. David has also held a number of senior roles with responsibility for manufacturing, distribution and operations performance within BP's downstream business. David has a degree in Chemical Engineering.

Brian Count, currently Executive Chairman, will become Non-Executive Chairman of the Company on 5 September 2011.

Dr. Brian Count, Chairman of Ceres Power commented:

'David will bring directly relevant experience to Ceres Power as the Company moves towards product launch. He has a strong track record in successfully developing and growing new technology businesses and in operational delivery.'

David Pummell commented:

'I am delighted to join Ceres Power as Chief Executive Officer. I am excited by the global potential of the CHP product and the opportunity to lead the introduction of this disruptive energy technology. Ceres has faced a number of recent challenges, but I am confident that we can successfully commercialise the Company's CHP product and deliver significant shareholder value.'

Disclosures under AIM Rule 17

David William Pummell, aged 48, is or has been a Director of the following companies during the previous five years:

Current Directorships:                                                                                             Pummellinc Ltd

Directorships held within previous five years:                                             MAPS Technology Ltd

There are no other matters which are required to be announced under AIM Rule 17.

Ceres Power Holdings Plc                                         Brian Count, Executive Chairman Rex Vevers, Finance Director	Tel: [phone]
Morgan Stanley & Co International Limited Peter Moorhouse/Will Sorby	Tel: [phone]
Jefferies International Limited Chris Snoxall	Tel: [phone]
Kreab Gavin Anderson Ken Cronin / Deborah Walter	Tel: [phone]

 

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