Business
Changes to Board responsibilities
Changes to Board responsibilities.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \n \n RNS Number : 3979D\n Transense Technologies PLC\n 19 February 2020\n \n \n \n \n 19 February 2020\n \n \n Transense Technologies plc\n \n \n (\"Transense\" or the \"Company\")\n \n \n \n \n \n Changes to Board responsibilities\n \n \n Transense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, announces changes to Board responsibilities with immediate effect. \n \n \n On 13 February 2020, Transense announced that it had extended the duration of the Joint Collaboration Agreement with Bridgestone Corporation (\"the Agreement\") by which Bridgestone offers the iTrack system exclusively as a mining tyre monitoring system for tyres 57 inches and above for its off-the-road (OTR) customers. The Agreement was extended until February 2022 at the earliest, and the period during which Transense undertake not to have discussions with other parties in relation to any merger, acquisition or joint venture in respect of the iTrack business was extended until 30 April 2020.\n \n \n David Ford, Executive Chairman of Transense, has undertaken a leading role in building our close working relationship with our partners at Bridgestone, and positioning iTrack for a period of strong growth. He has now decided to step down as Chairman of the Transense board in order to devote his full attention to delivering further success as the Chief Executive of the iTrack business. He will remain a member of the Transense board.\n \n \n He is replaced as Non-executive Chairman of the Transense board by Nigel Rogers, who has been Deputy Chairman of Transense since July 2015. \n \n \n David Ford commented, \"I have found myself focusing more and more on iTrack as the demands of that business have been increasing. The business has reached a stage in its development where it really isn't possible to devote the time needed as well as discharge effectively the responsibilities of the Chair. I am very excited by the prospects ahead.\"\n \n \n Nigel Rogers commented, \"I am delighted to be taking responsibility as Chairman at a pivotal time in the commercialisation of our leading technologies in iTrack and Surface Acoustic Wave sensing. On behalf of the Board, I would like to take this opportunity to thank David for his leadership over many years. We look forward to continue ...