Ceres Power Holdings plc
06 November 2007
Ceres Power Holdings plc
('Ceres', 'Ceres Power' or the 'Company')
Appointment of Non-Executive Chairman
Ceres Power, the AIM-quoted fuel cell group, has announced that Philip Holbeche,
Executive Chairman, has indicated his intention to retire from the board on 31
December 2007 and that Brian Count, currently a Non-Executive Director, will
become Non-Executive Chairman from 1 January 2008.
The board is pleased to welcome Brian as incoming Chairman to help guide the
company through its next phase of growth. His experience and knowledge of the
energy sector and the financial markets will be invaluable to the group's
on-going progress. The Board would like to thank Philip for his substantial
contribution, hard work and commitment.
In accordance with current corporate governance practice and following the
appointment of Brian as Non-Executive Chairman, it is the company's intention to
appoint another Non-Executive Director to the Board in due course.
Philip Holbeche said, 'It is more than six years since I founded the business,
taking it from an initial materials science concept into a leading high
technology engineering company. Two rounds of venture capital funding were
followed by a stock market flotation in November 2004, and the company is now
backed by blue-chip institutional investors in the UK and internationally. My
greatest pride is in the quality of the team which has been assembled and it has
been a pleasure and a privilege to work with each one of our employees.'
Commenting, Brian Count said:
'I am very pleased at the prospect of becoming Non-Executive Chairman of Ceres
Power Holdings plc. It is a world-leading company with unique technology that
has the potential to make a substantial contribution to address the global
challenges of reducing emissions, increasing fuel efficiency and improving
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For further information contact:
Peter Bance, Chief Executive, Ceres Power +44 (0) 1293 400 404
Patrick d'Ancona / Charlotte Kirkham +44 (0) 207 153 1531
Notes to Editor
Brian had a distinguished career in the CEGB and National Power, rising to
become Chief Executive Officer of Innogy plc. He built substantial shareholder
value at Innogy plc through its transformation from a generation company to an
integrated business, prior to its acquisition by RWE in 2003.
He was latterly the Chief Executive Officer of RWE Trading, based in Essen,
Germany until he retired from RWE in June 2005. In this role he transformed the
international energy trading business, to become a commercial hub of the RWE
group, in which asset values were optimised.
Brian read mathematics at Kings College, Cambridge and received a doctorate in
physics from Exeter University.
He is currently a non-executive director of Eskom, the state owned electricity
company in South Africa, Chairman of Progressive Energy, a company that is
working with Centrica to develop a clean coal fired power station in the UK and
is also a member of the UK government's Industrial Development Advisory Board.
He has extensive experience of international energy utilities and has been
involved with governments and regulatory matters both in the UK and throughout
This information is provided by RNS
The company news service from the London Stock Exchange