Directorate Changes

RNS Number : 1301R
Corac Group Plc
09 September 2014

 

 

9 September 2014

CORAC GROUP PLC

("Corac" or the "Group")

Directorate Changes

 

Corac, a group of innovative gas, air and energy technologies businesses, announces changes to its Board following a review of its business.

Jon Carter, its Chief Financial Officer ('CFO'), is stepping down from his role and the Board and will be leaving the Group with immediate effect to pursue new career options. Jon joined Corac in July 2013 and played an important role in the successful fund raising completed in December 2013.

Mark Crawford, currently Chief Operating Officer, will take on the additional responsibilities of CFO, drawing upon his experience in that role from November 2009 to July 2013.

The Board is pleased to announce the appointment of Andrew McCree (57) as a non- executive director and chairman of the Remuneration Committee, effective 1 October 2014. Andrew has over 35 years' experience of energy and environmental technology and consulting businesses, with an extensive knowledge of technologies and markets.  His early career was with BP Exploration.  He then joined the UK Atomic Energy Authority (UKAEA) and in 2005 became Chief Executive of AEA Technology. Since 2011 he has worked for Gustin Partners, a US specialist consulting business. His principal role has been to advise on a range of defence, energy and climate change matters working with both government agencies and private sector clients.

Rohan Courtney will be stepping down from his role as a non-executive director with effect from 30 September 2014. Rohan was appointed to the Board in April 2010 and chairs the Remuneration Committee.

Richard King, Chairman of Corac Group commented:

"The Board would like to express its thanks to Jon and Rohan for their valuable contributions during their time with the Group and wish them well for the future. We are delighted to welcome Andrew to the team and look forward to benefiting from his experience in the next, exciting phase of Corac's growth"

Ends

For further information please contact:

Corac Group plc

www.corac.co.uk

Phil Cartmell, Chief Executive Officer

01753 285 800

 

 

Cenkos

 

Ivonne Cantú / Elizabeth Bowman - Nomad

020 7397 8980

Jeremy Warner-Allen - Sales

 

MHP Communications

020 3128 8100

Reg Hoare / Vicky Watkins / Charlie Barker

 

NOTES TO EDITORS

Corac is a group of innovative UK based engineering companies, active in energy and environmental technologies. Group companies produce valuable solutions in compression systems, atmosphere management and heat exchangers for government, energy and industrial users. Corac Group shares have been traded on the London Alternative Investment Market (AIM) since July 2001.

Additional Disclosures

Andrew McCree has held the following directorships during the past five years

AEA Technology plc                                     Resigned 16 November 2011*

Project Performance Corporation            Resigned 2011

Eastern Resource Group                            Resigned 2011

 

*On 8 November 2012, AEA Technology plc appointed Deloitte LLP and KPMG LLP as joint administrators of the company and relevant group subsidiary companies incorporated in England and Wales.  The business and assets were subsequently sold to a subsidiary of Ricardo plc.

END