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RNS Number : 7284G
Ceres Power Holdings plc
03 July 2012
 



 

 

3 July 2012

Ceres Power Holdings plc

("Ceres", "Ceres Power" or "the Company")

Company plc Board Update

The Board of Ceres Power (AIM: CWR.L) is pleased to announce the appointment of Dr Mike Lloyd to its Board as Non-Executive Director and Chairman of the Remuneration Committee, with immediate effect.

Mike has more than forty years of experience in engineering, manufacturing and supply chain roles in the electrical machinery and power sectors.  His senior leadership roles have included Group Manufacturing Director, President of Rolls Royce Gas Turbines Operations, Technical Director of GEC Large Machines and Managing Director of Alstom Transport.  Mike is currently Chairman of Magnomatics, a venture capital-backed technology company, specialising in the development of innovative magnetic transmission drives for applications including wind turbines and hybrid vehicles.

Mike is also a Non-Executive Director of the Office of Rail Regulation and an advisor to Unipart and Cobham plc on operational excellence and supply chain.   He has a BSc in Electrical Engineering, a PhD in Electrical Machines and is a Fellow of the Royal Academy of Engineering.

Brian Count, Chairman of Ceres Power commented: "Mike brings a wealth of relevant experience concerning technology innovation and global operations leadership from product design through to volume manufacturing.  I look forward to him bringing this experience to the Board, as Ceres moves into its next phase of product development and delivery."

Commenting on his appointment, Mike Lloyd said: "Ceres has developed a compelling technology platform with the potential to deliver a wide range of low carbon products.  I have noted the enormous technology progress that Ceres has made in the last nine months.  In particular, I was impressed by Ceres' leadership team and the technical staff, with their professionalism and focus to deliver the micro-CHP product to market.  I firmly believe that Ceres' technology platform offers the potential to transform low carbon generation and that the product will be successfully commercialised to plan.  I look forward to working with the Board and making a significant contribution going forward."

In addition, the Board of Ceres is pleased to announce that John Nicholas has been made senior Non-Executive Director with immediate effect.  John has been on the Ceres Board for three years and is currently Chairman of the Audit Committee and sits on the Remuneration, Nomination and Governance Committees.

 

 

Disclosures under AIM Rule 17

Dr Mike Lloyd, aged 61, is or has been a Director of the following companies during the previous five years:

 

Current Directorships:                                                                                                                                                                                                                                                                                                                   Magnomatics

                                                                                                                                                Office of Rail Regulation (ORR)

 

Directorships held within previous five years:                                                   GEC Alstom Traction Ltd

 

There are no other matters which are required to be announced under AIM Rule 17.

 

Ceres Power Holdings Plc                                        

David Pummell, chief Executive

Rex Vevers, Finance Director

 

Tel: +44 (0) 1403 273 463

Investec Securities Limited

Chris Sim/James Ireland

 

Tel: +44 (0) 20 7071 4304

 

Kreab Gavin Anderson

Ken Cronin / Deborah Walter

 

Tel: +44 (0) 20 7074 1800

 


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