Directorate Change

RNS Number : 6511N

ITM Power PLC

20 February 2009

 

For release immediately

20 February 2009

ITM Power plc

('ITM' or the 'Company')

Directorate change 

ITM Power plc announces that Jim Heathcote, Chief Executive, has resigned his position with immediate effect.

The Board has accepted Jim's resignation. The objective of the Company is unaltered and remains the development and demonstration of electrolysers and fuel cells with a view to achieving early income and ultimately developing major new markets for hydrogen as an alternative clean fuel.

The Company thanks Jim Heathcote for all his efforts and for overseeing the Company's progress to date and wishes him well in any further venture which he pursues.

ITM Power plc is pleased to announce that until a new Chief Executive is identified Roger Putnam, one of its non-Executive Directors, will take on the role as Interim Manager of the business in conjunction with the founder, senior Director and scientist Dr Don Highgate.

Dr Donald Highgate, Science Director, expressed his thanks to Jim for his efforts in making the Company financially sound and bringing it to this important point in its development.  Dr Highgate and Roger Putnam will provide direction and maintain continuity and look forward to working with a new Chief Executive when the appropriate person is chosen.

Peter K Hargreaves, Chairman, expressed his gratitude for all the work that Jim Heathcote has put in over the years.  Jim leaves the Company in a financially sound position poised to capitalise on the commercialisation of the proven technology and science on which the Company holds patents.

  For further information please contact:

ITM Power plc	01799 542 222
Peter Hargreaves
Panmure Gordon & Co.	020 7459 3600
Katherine Roe

 

END

 

 

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