Directorate Change

RNS Number : 0394V

Optare PLC

27 October 2010

 



Optare plc

("Optare" or the "Company")

Directorate Changes

Optare is pleased to announce the appointments today of Dr V Sumantran, (52) and Mr R Seshasayee, (62) as a non-executive Directors.

Mr R. Seshasayee, has been Managing Director of Ashok Leyland since 1998 leading its  transformation into a globally competitive technology leader seeking growth through globalisation and diversification, via global acquisitions and joint ventures with Nissan Motor Company, John Deere, Continental AG and the Alteams Group, to name a few. He is also the Executive Vice Chairman of Hinduja Automotive Limited, UK, the holding company of Ashok Leyland.

He began his career as a Chartered Accountant with Hindustan Lever Limited in 1971 and joined Ashok Leyland five years later in 1976.

Seshasayee has been on the National Council of Confederation of Indian Industry (CII) for over fifteen years and served as its President for the year 2006-07. He served as the President of Society of Indian Automobile Manufacturers (SIAM), the apex body representing the Indian automobile industry during 2001-03. He was the Co-Chairman of Core Group on Auto-Research (CAR), a joint initiative of the Government of India and the auto industry for developing advanced technology.

As a member of Government of India delegations, Seshasayee was a participant at the Doha Ministerial Round of WTO in 2001 and the Hong Kong Ministerial at Hong Kong in 2005. Seshasayee was also the Co-chair of the World Economic Forum - Middle East during 2007.

Dr. V Sumantran, is Executive Vice Chairman of Hinduja Automotive Limited, UK, the UK-based holding group company of Ashok Leyland, as well as member of the Board of Ashok Leyland, Chairman of Defiance and Chairman of Albonair.  Dr. Sumantran also is Chairman of Ashok Leyland - Nissan Limited.  Dr. Sumantran serves on the Scientific Advisory Committee to the Cabinet and served on the Science Advisory Council of the Prime Minister of India. He is also a Distinguished Visiting Professor at the Indian Institute of Technology, Madras.

Previously he was Executive Director of the Passenger Car Business as well as the Engineering Research Centre, Tata Motors Limited. Prior to that, Dr. Sumantran had spent 16 years with General Motors Corporation in the US and later Europe, where he served as Director, Advanced Engineering at SAAB Automobile AB.  He has served as President of the Automotive Research Association of India (ARAI) and as Co-Chairman of the Engineering Services Forum of NASSCOM.

Seshasayee currently holds the following directorships:

Ashok Leyland Limited	Managing Director
Ashley Airways Limited **	Chairman
Ashley Alteams India Ltd.	Chairman
Ashok Leyland John Deere Construction Equipment P Ltd.	Chairman
Hinduja Foundries Limited	Chairman
Hinduja Group India Limited	Director
Indusind Bank Limited	Chairman
Irizar TVS Limited	Director
Automotive Infotronics P Ltd.	Director
Nissan Ashok Leyland Power Train Ltd.	Director
Nissan Ashok Leyland Technologies Ltd.	Director
Ashok Leyland Nissan Vehicles Ltd.	Director
Hinduja Leyland Finance Limited	Director
Hinduja Automotive Limited, UK	Executive Vice Chairman
Definace Technologies Ltd.	Director
Hinduja National Power Corporation Ltd.	Director

** Under Members' Voluntary Winding-up commenced on 8 February 2010

Dr Sumantran currently holds the following directorships:

Hinduja Automotive Limited,UK	Executive Vice Chairman
Ashok Leyland Limited	Director
Automotive Infotronics Pvt  Limited	Director
Nissan-Ashok Leyland Technologies  Ltd	Director
Nissan-Ashok Leyland Powertrain  Ltd	Chairman
Ashok Leyland-Nissan Vehicles  Ltd	Director
Defiance Testing & Engg Services Inc., USA	President
Defiance Tech  Ltd	Director
UCAL Fuel Systems Limited	Director
Ashok Leyland John Deere Construction Equipment Company Pvt. Ltd.	Director

Commenting on the appointment, Jim Sumner CEO commented;

"I am delighted to welcome Dr Sumantran and Mr Seshasayee to the board. Their knowledge and expertise in the Global bus industry will be invaluable in supporting our growth ambitions in the UK and Overseas."

There are no additional disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM rules.

For further information, please contact:

Optare plc Jim Sumner - Chief Executive

Tel: [phone]

Cenkos Securities plc Stephen Keys/Camilla Hume

Tel: [phone]

 

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