21 May 2001
Sir Christopher Evans OBE today retired from the board of Toad plc, of which
he was Chairman, to focus his attention on the near term expansion of Merlin
Biosciences across Europe.
An announcement will be made in the near future regarding the appointment of a
new Chairman and in the meantime Stephen Wheatley, Toad plc's Chief Executive,
will take over as acting Chairman.
Sir Christopher Evans OBE said
'After 7 years as Chairman I have helped steer Toad from a small start up
company based in Cambridge to a profitable fully listed plc with 300
hundred staff and a turnover of £33 million.
Now, under the excellent leadership of Stephen Wheatley and his vibrant
management team, Toad is set to enter the vehicle telematics marketplace
and as Toad's largest shareholder I applaud and endorse this move.
My aim is to now focus my efforts on growing Merlin Biosciences into one
of the worlds premier biotechnology investment groups.'
Stephen Wheatley said
'Toad was Chris's vision and it was through his energy and hard work that
the company became the number one specialist audio and security company in
the UK. I would like to thank Chris for his contribution over the last
He is retiring in the knowledge that the company has established an
excellent operational infrastructure that the directors believe will
return good shareholder value over the next 3 years, although the negative
dollar exchange rate, the ending of our relationship with Laserline Italy
and the cost of investment in our new ACTRA range of telematics products
and services will have a material impact on our 2001 figures.'