ITM Power PLC
18 March 2008
For Immediate Release 18 March 2008
ITM Power plc
('ITM' or 'the Company')
Retirement of a director of ITM Power plc
After eight years service with ITM Power plc, Dr Jonathan Lloyd has indicated
his desire to relinquish his main board directorship as he looks toward
retirement. Dr Lloyd, in his role as Director of Engineering, will continue to
work at ITM as a full time employee of the Company for a period of around six
months to conclude his present projects, after which time he will assume a
consultancy role to the Company.
Dr Lloyd was a founder director of ITM and will still remain a major
shareholder. Through careful succession planning, Dr Lloyd's role will be filled
by scientists and technicians from within the Company when his consultancy role
is assumed.
Commenting on Dr Lloyd's retirement, Jim Heathcote Chief Executive of ITM said:
'We would like to thank Jonathan for his contribution to ITM over the past eight
years. The Company is pleased that Jonathan will continue to assist the business
in a new role as consultant to ITM.'
For further information please contact:
ITM Power plc 01799 542 222
Jim Heathcote, Chief Executive Officer
Panmure Gordon & Co. 020 7459 3600
Katherine Roe
Buchanan Communications 020 7466 5000
Ben Willey
Richard Darby
Ben Romney
Notes to the Editors:
ITM Power is a developer of low-cost hydrogen technologies. The Company has
developed new materials and processes that dramatically reduce the cost of fuel
cells and electrolysers. The patented membrane materials used in the devices
have higher performance and are 1% of the cost of the industry standard
materials.
Electrolysers work by converting water and electricity into hydrogen and oxygen.
The hydrogen produced can be used as a replacement for fossil fuels and
facilitate zero carbon domestic housing and pollution free motoring.
ITM Power was founded in 2000 and floated on the London Stock Exchange's
Alternative Investment Market in June 2004.
This information is provided by RNS
The company news service from the London Stock Exchange