Transense Technologies PLC
23 May 2003
Date: 23 May 2003
On behalf of: Transense Technologies plc
Embargoed until: 1200hrs
Transense Technologies plc
Board Change
Transense Technologies plc ('Transense' or the 'Company'), developer and
licensor of wireless sensor technology for the automotive industry, announces
that Sir Dominic Cadbury is stepping down as Chairman of the Company following
today's AGM. Peter Woods OBE, who has been a non executive director of Transense
for two and a half years, will become the new non-executive Chairman of
Transense with immediate effect.
This morning Sir Dominic said:
'When I was invited to join the Board as Chairman in November 2000 I pointed out
that I would do so with the proviso that I intended to wind down my public
commitments over the next few years. I have enjoyed chairing Transense and leave
with the belief that its strong committed management team will take the
Company's technology from strength to strength. I have no hesitation in backing
the Board in its choice of Peter Woods as my successor. Peter and I joined
Transense at the same time in 2000 and have worked closely together helping the
Company in this exciting stage of its development and I wish him and the rest of
the Board all my best wishes for the future.'
James Perry, Chief Executive, said:
'I would like to thank Sir Dominic for all his invaluable input since joining
the Board in November 2000. When he retired from Cadbury Schweppes as Chairman
it was his intention to reduce his corporate responsibilities and we appreciate
that he agreed to join us at a time when his wide experience of corporate
matters was most needed and I, along with my colleagues on the Board of
Transense, wish him well in his move towards retirement.
Peter Woods joined Transense following a successful career leading up to being
chairman of Rover Japan and a senior investment advisor to the DTI and
Foreign Office. He has a wide knowledge of the automotive industry and has
proved himself a valuable member of the Transense Board since joining us in
November 2000. I am very pleased that Peter has agreed to take the chair and it
backs up my view that the quality of our management structure is such that we
have been able to satisfy, from within, this position.'
For further information please contact:
James Perry, Chief Executive Tel: 01869 238 380
Transense Technologies plc
Emma Kane/Katharine Sharkey Tel: 020 7955 1410
Redleaf Communications Ltd Mob: 07876 338339
Notes to Editors:
• Transense was founded in 1991 and its shares were listed on AIM in 1999;
• Transense's technology is divided into two business streams: Torque
measurement and Pressure measurement;
• Current licensees of Transense's technology include SmarTire, Michelin,
Honeywell and TT electronics;
• Further information on Transense is available at the Company's
website at www.transense.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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