Directorate Change

RNS Number : 8008P

Optare PLC

07 October 2013

 



Optare plc

("Optare" or the "Company")

Board Changes

Enrico Vassallo appointed to Board of Optare plc

Optare plc is pleased to announce the appointment of Enrico Vassallo to the Board of the Company in the role of Chief Executive Officer with effect from 7 October 2013.  Per Gustav (known as "PG") Nilsson who has been acting as interim CEO since 1 January 2013 has stepped down from the Board at the same time.  The Company would like to thank PG for his contribution to the Company over the last few years and wishes him well for the future.  Glenn Saint continues in his role as Deputy CEO.

Mr Vassallo, 45, first joined the Company at the beginning of September 2013 as CEO of its principal operating company Optare Group Limited.   Mr Vassallo joins the Company from FPT Industrial, the division of Fiat Industrial which develops and manufactures diesel engines, axles and transmissions for industrial applications, where he was the President responsible for the group's operations in Latin America. Prior to that Mr Vassallo held various senior management positions in Fiat bus division, IVECO Irisbus.

Yorkshire based Optare is one of Britain's leading bus makers and is 75% per cent owned by Ashok Leyland, which is among the top five global bus producers.

Speaking of his appointment to the Optare plc Board, Chairman John Fickling, said: "I am very pleased to welcome Enrico to the Board. He brings a wealth of international sales experience in the bus industry gained in several of the key markets that we are targeting as part of our strategic aim of developing a stronger export business.

Save as disclosed below there are no additional disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM rules in relation to Enrico Vassallo.

Irisbus Italia *

FPT Industrial - Argentina *

FPT Industrial - Brazil  *

*Past Directorships

 For further information please contact:

Optare plc                               Tel: [phone]
Glenn Saint -  Deputy CEO

Cenkos Securities plc        Tel: [phone]
Stephen Keys/Camilla Hume   

 

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