The Board is pleased to also announce that Chris Walters will become Chief Executive Officer of the Group with effect from 3 September 2018. John will work with Chris to ensure a smooth handover and to provide continuity for the Group.
Chris is a Chartered Engineer, with a Masters degree in Naval Architecture from Southampton University and an MBA from Imperial College, London. He is a Fellow of the Royal Institution of Naval Architects and The Institute of Marine Engineering, Science & Technology.
Chris has over 20 years of senior management experience gained whilst working for P&O Group and for Lloyd's Register of Shipping, where he held positions as Senior Vice President of the Oil & Gas services division and Operations Director of the Marine services division. More recently, Chris was CEO of TSC Inspection Systems, a private equity and VCT backed non-destructive testing technology and services business, where he led the growth and development of the group and achieved a successful sale for the investors.
Alan Wilson, Chairman, commented:
“John was a founding member of Pressure Technologies plc and has served the business for 21 years. He originally joined Chesterfield Special Cylinders in 1997 as Finance Director and went on to lead the Management Buy-Out of Chesterfield Special Cylinders in 2004 and the subsequent listing of the Group on AIM in 2007.
During his time, the Company has seen substantial change; including several acquisitions, a divestment and, most recently, the prolonged severe down-turn in the Global Oil & Gas industry which John managed to successfully navigate the Company through. The Board would like to thank John for his hard work, dedication and stalwart leadership during his time with us and wish him well for the future.
We are delighted to welcome Chris to the Company, particularly as he has an enviable track record of leading change and driving global growth of businesses in the Energy and Marine industries.”
AIM disclosures
Christopher Lee Walters, aged 49, currently holds or has held the following directorships and partnerships in the last five years:
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Current directorships/partnerships |
Past directorships/partnerships |
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Mablaw 555 Limited |
Lloyds Register of Shipping |
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Aquaso Limited (TSC Inspection Systems) |
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Technical Software Consultants Limited (UK) |
Mablaw 555 Limited, a company of which Christopher Walters is a director, voluntarily appointed a liquidator in July 2017 and this process is ongoing.
Aquaso Limited, a company of which Christopher Walters was a director, was dissolved by way of a voluntary strike-off in January 2018.