Vycon Inc

Directorate Change

RNS Number : 8463W
Vycon Inc
17 June 2008
 





Vycon Appoints New Chief Financial Officer and

Executive Director



The Board of Vycon, Inc ('Vycon' or the 'Company'), the AIM listed, designer and manufacturer of high-speed flywheel based energy storage systems, is pleased to announce that Craig T. Glynn has been appointed as Chief Financial Officer and as an Executive Director of Vycon, with immediate effect. Mr. Glynn succeeds Dennis Whittler, who is retiring and has stepped down as a director of Vycon.


Craig Glynn brings to Vycon twenty-three years of extensive hands-on experience in financial management and reporting, financial and strategic planning and mergers and acquisitions.  Craig most recently served as Chief Financial Officer for Hilex Poly Co. LLC ('Hilex'), a plastics manufacturer with annual sales of $500 million, eleven manufacturing facilities and approximately 2,500 employees.  Craig was instrumental in the re-capitalisation of Hilex, with private equity backing, and the subsequent purchase of the company's largest domestic competitor, financed primarily with debt.  


Craig has extensive experience in senior financial positions with start-up companies, where he gained valuable knowledge and expertise in the financing of such operations. Craialso has nine years experience with Deloitte & Touche. 


Commenting on the appointment, Vatche Artinian, President & CEO of Vycon, said: 'We are very excited about this appointment. Craig Glynn's knowledge and skills will be a significant benefit to the Company. As Vycon moves forward, Craig's expertise and input will prove invaluable, especially as our sales traction gains pace and the Company moves to its next stage of development. We are delighted to have attracted a Chief Financial Officer of such caliber. I would also like to thank Dennis Whittler for his contribution and hard work, especially in bringing the Company to a successful listing in London on AIM. We wish him well in the future.'


Craig Thomas Glynn, 47, is a partner in Galway Partnership, which owns real estate in California. There are no other matters to be disclosed in relation to Schedule 2 paragraph (g) of the AIM Rules.


-Ends-


For further information:

Vycon Inc  


Vatche Artinian  

001 714 386 3800


Smith & Williamson Corporate Finance Limited


Nick Reeve

Martyn Fraser


+44 (0) 117 376 2000



Cardew Group

Rupert Pittman

Shan Shan Willenbrock

Emma Consett

+44 (0) 20 7930 0777


This information is provided by RNS
The company news service from the London Stock Exchange
 
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