Directorate Change

RNS Number : 5279Q

Gas Turbine Efficiency PLC

04 August 2010

 



Gas Turbine Efficiency PLC

("GTE" or the "Company")

Directorate Change

Gas Turbine Efficiency plc ("GTE" or the "Company"), a leading provider of proprietary cleantech systems for enhancing the performance of aviation and industrial gas turbines, announces that, following approval of Resolution 3 at today's Annual General Meeting, Mr John Richard Mapplebeck has joined the board as a non-executive director.

Mr Mapplebeck, aged 66, is an experienced director with extensive knowledge of corporate, investment banking and capital markets in UK, Europe and USA.  A career banker with NatWest, Mr Mapplebeck spent 8 years in New York working with international energy, power and natural resources clients. He was Global Head of Project Finance based in London before being appointed to the Boards of a number of the bank's UK and European major subsidiaries. After leaving NatWest in 2000, Mr Mapplebeck joined the board of JKX Oil & Gas Plc, a FTSE listed independent oil and gas company with interests in Ukraine and other eastern European countries; he was Chairman of JKX's Audit and Remuneration Committees. In 2002 Mr Mapplebeck was appointed Chairman of Killingholme Power Group Ltd which owned and operated a 650MW gas-fired power station on the Humber estuary. The power station was sold to Centrica Plc following the completion of an extensive turn-a-round programme.

Mr. Mapplebeck now serves as the Chairman of Zouk Solar Opportunities Ltd which invests in solar energy projects in Italy and other Mediterranean countries as well as being a non-executive director of AIM quoted Landkom International plc a Ukraine based agricultural business and a director of GSJR Developments Limited, a private UK property development company.   

Mr Mapplebeck will fill the office being vacated by Mr Charles Cameron who decided not to offer himself up for re-election following his retirement by rotation at today's Annual General Meeting. Mr Mapplebeck has also taken over from Mr Cameron as Chairman of the Audit Committee.

John Grant, Chairman commented:

"I would like to thank Charles Cameron for the considerable contributions he has made to the Board during his time with GTE.

"I am delighted to welcome John Mapplebeck to the Board. I know that John's extensive experience in finance, as well as in the oil and gas and energy sectors, will make him a valuable member of our Board."

For further information:

Gas Turbine Efficiency plc	Steven Zwolinski (Chief Executive Officer)	[phone]
Matrix Corporate Capital LLP	Nick Ellis	[phone]
Financial Dynamics	Jon Simmons Susanne Yule	[phone]

Regulatory Information:

Mr. Mapplebeck is currently Chairman of Zouk Solar Opportunities Fund, a non-executive director of Landkom International Limited and a director of GSJR Developments Limited. In the past five years, he has also been a director of JKX Oil & Gas plc, Virgo Oil & Gas Limited, Teesside Regeneration Limited and Killingholme Power Group Ltd.

Mr Mapplebeck holds 8,862 shares in the Company. There is no other information required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

END

 

 

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