Pressure Technologies Plc - Board Changes
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Pressure Technologies plc
("Pressure Technologies" or the "Group")
Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that Sir Roy Gardner today joins the Board of the Company as Non-Executive Chairman.
Sir Roy is highly experienced in both executive and non-executive roles, leading and chairing large international businesses, many of them providing services to, or regulated by, governments. Currently he is the Chairman of Serco Plc, the Senior Independent Non-Executive Director of Mainstream Renewable Power Limited and Chairman of the Board of Governors of St. Alban's School.
Sir Roy has over 40 years' experience in businesses in the services, energy, industrial, chemicals, electronics, insurance and leisure sectors and was recognised by Harvard as one of the leading wealth creators in the world. Alongside his business achievements he is a tireless fundraiser for many charities and most notably was President of Carers UK, Chairman of the Employers Forum on Disability and Chairman of The Princess Royal's Development Trust.
In addition to his current appointments, Sir Roy has held senior positions in a number of FTSE 250 companies, including as Chief Executive of Centrica plc, Chairman of Manchester United plc, Chairman of Compass Group plc and, and most recently, as Senior Independent Director of William Hill plc. Earlier experience included senior management positions at British Gas plc, STC plc, The General Electric Company plc, Marconi and British Aircraft Corporation.
Neil MacDonald today steps down as Non-Executive Chairman but remains a Non-Executive Director. Neil has indicated that he will not seek re-election at the upcoming Annual General Meeting and will retire from the Board at its conclusion. Pressure Technologies is currently at an advanced stage of discussions regarding the appointment of an additional Non-Executive Director and will update shareholders in due course.
Neil MacDonald, outgoing Chairman of Pressure Technologies, commented:
"I am delighted that Sir Roy has agreed to join the Board as Chairman. His extensive experience in international business will be hugely beneficial to Pressure Technologies in the next phases of its strategy"
Sir Roy Gardner commented:
"I am looking forward to joining and building the Board of Pressure Technologies bringing to them, amongst other skills, my considerable experience as Chairman of listed companies to lead strong governance and oversight of the management team as we grow the business and realise its significant potential. The businesses in the Group have a long heritage in the markets that they serve and I look forward to working with the management team as they make further progress with developing and implementing their strategy, focused on organic growth in the oil and gas industry, further growth in global defence markets and in seizing opportunities in the emerging hydrogen energy sector."