Business
Board appointment
Board appointment.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n Traction Technology PLC\n17 January 2008\n\n Traction Technology Plc\n (AIM: TRAC)\n\n Appointment of Chief Executive\n\nTraction Technology Plc ('Traction' or the 'Company'), a designer and deliverer\nof environmentally friendly, low emission series diesel electric hybrid engine\nsystems, announces the appointment of Andrew Walmsley as Chief Executive with\neffect from 18 January 2008.\n\nMr Walmsley, aged 55, has over 25 years experience in the global automotive\nindustry. He has a strong operations and commercial background with a\nsuccessful track record of delivering results mainly in the sports car and\nengineering consultancy sectors.\n\nPreviously Mr Walmsley has been Group Commercial Director of Lola Cars\nInternational Limited and Managing Director of Lola Automotive. From 1999 to\n2003 Mr Walmsley worked as both Project Director and then Managing Director of\nMcLaren Cars Limited where he was responsible for all aspects of McLaren Cars'\nactivities, in particular the Mercedes Benz SLR McLaren sports car project.\nPrior to joining McLaren Cars Limited Mr Walmsley held senior positions at\nCosworth Engineering and Group Lotus.\n\nHis previous achievements include securing the largest ever composites\nmanufacturing contract for Lola Composites, leading the transformation of\nMcLaren Cars from a capability of building 20 vehicles a year to one capable of\nbuilding 10 cars a week and developing the client base, turnover and global\nreputation of Cosworth Engineering.\n\nUntil recently Mr Walmsley was a board member and Vice Chairman of the\nAutomobile Division of the Institution of Mechanical Engineers.\n\nUpon the appointment of Andrew Walmsley, Bob Dover, currently Chief Executive\nwill relinquish his executive responsibilities, and become a Non-executive\ndirector.\n\nNick Brayshaw, Chairman of Traction, commented:\n\n'We are very excited to be welcoming Andrew to the Board. As I noted when Andrew\nwas appointed Managing Director to our subsidiary company in December last year,\nwith his broad experience in the automotive industry, Andrew will play a key\nrole in advancing the manufacturing and distribution of Traction's hybrid engine\nsystems.\n\nI would also like to thank Bob Dover for his considerable efforts as Chief\nExecutive since the formation of the Company. It is a credit to his engineering\nand management ...