Directorate Change

RNS Number : 0768G

AB Dynamics PLC

28 February 2018

 

AB Dynamics plc

("ABD or the "Group")

Directorate Changes

Further to the announcement made by the Group on 9 August 2017, AB Dynamics plc (AIM: ABDP) the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces that Tim Rogers, CEO, will be leaving the Group on 28 February 2018.

Following Tim Rogers' departure, Tony Best, Non-Executive Chairman will become interim Executive Chairman. With the recent strengthening of both the operational management team and the Board and Tony's long-term stewardship of the Group, the Directors believe that AB Dynamics will continue to manage and drive its growth until the arrival of a new CEO, which is expected to be in the summer.  

Tony Best, Chairman of AB Dynamics, commented: "I would personally like to thank Tim for all his efforts over the last 5½ years and as a Board we wish him well for the future.   Tim leaves having put in place  a sound platform on which to continue the Group's development and growth."

As in previous years, the Group will issue a trading update for the six months ending 28 February 2018 on 28 March 2018.

For further information please contact:

AB Dynamics plc	01225 860 200
Tony Best, Non-Executive Chairman Rob Hart, Chief Financial Officer
Cairn Financial Advisers LLP (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Richard Nash
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies David Foreman
IFC Advisory (PR)	0203 934 6630
Tim Metcalfe Heather Armstrong Graham Herring

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. ABD is headquartered in Bradford-on-Avon employing approximately 130 staff. ABD currently supplies all of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

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