Appointment of Chairman

RNS Number : 4805E

Gas Turbine Efficiency PLC

21 December 2009

 



21 December 2009

Gas Turbine Efficiency PLC 

("GTE" or the "Company")

Appointment of Chairman

Gas Turbine Efficiency plc ("GTE" or the "Company"), a leading provider of proprietary cleantech systems for enhancing the performance of aviation and industrial gas turbines, is pleased to announce that Mr John Grant has been appointed non-executive chairman. Mr Grant will join the board and take up his role as chairman with effect from 4 January 2010.

Mr Grant, aged 64, is an experienced director who spent his executive career in a variety of senior international roles within the engineering, electrical utility and automotive industries. After holding a number of senior positions within Ford Motor Company in Europe and the USA. including head of corporate strategy in Ford US and deputy chairman of Jaguar, he was group finance director for Lucas Industries plc (subsequently Lucas Varity plc) between 1992 and 1996. He was then chief executive of Ascot plc between 1997 and 2000 where he led a management buy-out of four specialist engineering businesses from Ascot. In recent years, he has held a number of non-executive director and chairmanship roles in a wide range of listed and private companies. John was on the Board of National Grid between 1995 and 2006.  

Mr Steven Zwolinski, Chief Executive Officer, said: "We are delighted to have attracted a Chairman of John's caliber. John is an international business leader who brings with him a wealth of experience. He will be an exceptional Chairman for GTE as it enters the next stage of its development.

"The Board would like to extend its thanks to John Bryant, who is stepping down from the Board as previously announced, for his significant contribution to the development of the Group."

Mr Grant commented: "I am delighted to be joining GTE at this exciting stage of its development. The company has already made significant progress in developing an attractive portfolio of performance-enhancing products and establishing a strong position in its chosen gas turbine markets. It clearly has the potential to continue to grow rapidly in the coming years."

For further information:

Gas Turbine Efficiency plc	Steven Zwolinski (Chief Executive Officer) Kevin Dotts (Chief Financial Officer)	[phone]
Matrix Corporate Capital LLP	Nick Ellis Tim Graham	[phone]
Financial Dynamics	Jon Simmons  Susanne Yule	[phone]

Regulatory Information:

Mr Grant is currently a non-executive director of Melrose plc, MHP SA, Pace plc and the Royal Automobile Club Limited and is non-executive chairman of Surion Energy plc and Torotrak plc. 

In the previous five years Mr Grant has also been a director of National Grid plc, Hasgo Group Limited, Peter Stubs Limited, Cordex plc, Corac Group plc and the Royal Automobile Club Motor Sports Association Limited.  

Mr Grant was a director of Hasgo Group Limited, a company that went into liquidation in October 2009. 

Mr Grant does not hold shares in the Company. There is no other information required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

John Bryant will leave the board of the Company on 4 January 2010.

About GTE (AIM Ticker: GTE)

GTE designs, manufactures and supplies proprietary cleantech energy saving and performance enhancing systems to the aviation, industrial and combustion industries. GTE's extensive portfolio of patented cleantech solutions save fuel, reduce emissions, increase availability, and extend turbine and parts life. 

The Group also provides solutions for burning a wider variety and quality of primary and alternative fuels. Specific products and services developed by our world-class technology team include compressor cleaning and power augmentation systems; fuels management systems; combustion design, repair, upgrade and monitoring; and fluid and control auxiliaries. The Group's systems and associated services are provided to turbine end users and OEMs including General Electric, Pratt & Whitney, Rolls Royce, Caterpillar-Solar and Siemens from operation centres in Europe and the USA. 

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