Business
Board Changes
Board Changes.
About this update from Ct Automotive Group Plc
[{"type":"text","content":"\n\n13 July 2023\n \nCT AUTOMOTIVE GROUP PLC\n(\"CT Automotive\" or the \"Company\")\n \nBOARD CHANGES\n \nCT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, announces the following Board changes. \n \nChanges to Board roles\n \nAs the business positions for growth and strengthens its governance, there are a number of changes to Board roles, which take effect from today:\n \n· Simon Phillips will move from his current role as Executive Chairman, to become Chief Executive Officer;\n· Raymond Bench, currently Independent Non-Executive Director, will be appointed as Non-Executive Chairman;\n· Scott McKenzie, currently Chief Executive Officer, will step down from the Board to a new role as Chief Operating Officer, Sales and Product Development; and\n· Francesca Ecsery, currently an Independent Non-Executive Director, will be appointed as Senior Independent Non-Executive Director.\n \nThe process to identify and appoint a new Independent Non-Executive Director and Chair of the Audit and Risk Committee is ongoing.\n \nAppointment of shareholder representative as Non-Executive Director\n \nIn addition, with effect from today, Nick Timberlake will join the Board as a Non-Executive Director and appointee of Otus Capital Management Limited, which currently owns 18.9% of the issued share capital of CT Automotive.\n \nNick is a director of India Capital Growth Fund and has over thirty years' experience in the asset management industry, including as a portfolio manager with HSBC Global Asset Management between 2005 and 2020, initially as Global Head of Emerging Markets Equities and then Head of Equities. Previously, he was a Director of F&C Emerging Markets Limited and has spent over 20 years investing in global emerging markets equities. Nick is a member of the CFA Institute and CFA Society of the UK.\n \n \nSimon Phillips, Chief Executive Officer of CT Automotive, said:\n \n\"I am delighted to welcome Nick Timberlake to the Board and look forward to working with him as we implement our strategy for improved efficiency and growth. The changes to Board roles announced today ensure that we have the right people in place to execute this...