Directorate Change

RNS Number : 2009O

TI Fluid Systems PLC

28 January 2019

 

28 January 2019

TI Fluid Systems plc

Executive Directorate Change

TI Fluid Systems plc (together with its affiliates, the "Group") announces that Timothy Knutson, Chief Financial Officer and Executive Director, has informed the Group that he wishes to pursue other interests outside of the Group but will remain in his current positions while the Group completes an orderly transition to a suitable replacement, at which point he will then step down.  The transition process is expected to be completed by the end of 2019.

William L. Kozyra, Chief Executive Officer, said, "The Group is grateful to Tim for his many significant contributions over the past decade working with the team and our key stakeholders.  During this time, the Group achieved record financial performance and successfully completed a variety of critical transactions, including listing on the London Stock Exchange in 2017.  As a result, the Group is in a very strong financial and competitive position.  I extend my thanks to Tim for all of his support over the past years as well as his commitment to work closely with the Group as we transition to his successor."

Timothy Knutson, Chief Financial Officer, said, "I have been with TI Fluid Systems for over ten years and am very proud of the team's tremendous success during this time.  I'm excited for the next stage of my career once the transition is complete and will remain flexible to support the Group going forward.  The Board and management team are extremely strong, and I am confident that the Group is well-positioned, both financially and strategically, to continue delivering value to shareholders."

The Group intends to consider both internal and external candidates for the Chief Financial Officer position and any required announcements will be made in due course.

Enquiries

TI Fluid Systems plc

Alpna Amar

Investor Relations

Tel:  [phone]

FTI Consulting

Richard Mountain

Nick Hasell

Tel:  [phone]

About TI Fluid Systems plc

TI Fluid Systems (LSE: TIFS) is a leading global manufacturer of fluid storage, carrying and delivery systems primarily for the light duty automotive market. With nearly 100 years of automotive fluid systems experience, TI Fluid Systems has manufacturing facilities in 118 locations across 28 countries serving all major global OEMs.

 

END

 

 

BOAPGURCGUPBGCM