Appointment of Chief Financial Officer
For immediate release
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
4th July 2019
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Appointment of Chief Financial Officer
AB Dynamics (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, is pleased to announce the appointment of Sarah Matthews-DeMers as Chief Financial Officer and she will join the Board with effect from 4th November 2019.
Currently Group Finance Director of Carclo plc, Sarah was previously Director of Strategy and Investor Relations at Rotork plc where she led a wide-reaching strategic review of all aspects of the business. Prior to this she was Deputy Finance Director at Avon Rubber plc ("Avon") where her responsibilities included corporate reporting, investor relations, treasury, tax, M&A and post-acquisition integration. During her time at Avon, Sarah was part of the senior management team that transformed Avon from a £60 million to a £350 million market capitalisation company.
A Fellow of the Institute of Chartered Accountants with a first-class honours degree in Accountancy Studies, Sarah began her career at PricewaterhouseCoopers where she gained extensive experience of working with a wide range of international manufacturing and technology companies.
Sarah Matthews-DeMers said: "I am delighted to be joining AB Dynamics at a time of significant development in the business and to have the opportunity to help the Group deliver sustainable, profitable growth."
Commenting on the appointment, CEO, Dr James Routh said: "I am very pleased that Sarah will be joining AB Dynamics and congratulate her on her appointment to this important leadership role. Sarah brings extensive experience of financial management in public company environments, investor relations and strategic development. I am confident her expertise and judgement will prove a real asset as we take advantage of the significant market opportunities ahead."
Information disclosable under Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies
Sarah Matthews-DeMers (aged 43) does not hold any shares or options in the Group. In the 5 years preceding the date of this announcement, she held the following directorships and no partnerships.
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Current directorships |
Past directorships |
Current partnerships |
Past partnerships |
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Carclo plc Jonas Woodhead Limited CTP Carrera Inc Carclo US Holdings Inc |
Avon Rubber Pension Trust Limited |
None |
None |
There is no further information regarding Sarah Matthews-DeMers required to be disclosed under the AIM Rules.
Sarah has given formal written notice to resign as a director of the aforementioned companies, such resignations being with effect from 31 October 2019.
Enquires:
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AB Dynamics plc |
01225 860 200 |
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Tony Best, Non-Executive Chairman |
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Dr James Routh, Chief Executive Officer |
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Cantor Fitzgerald Europe (Broker) |
0207 894 7000
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Phil Davies, David Foreman (Corporate Finance) Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales) |
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Cairn Financial Advisers (Nomad) |
0207 213 0880
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Tony Rawlinson Liam Murray Richard Nash
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Tulchan Communications |
0207 353 4200 |
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James Macey White Matt Low Deborah Roney
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The person responsible for arranging the release of this information is Dr James Routh, CEO of the Company.
Overview of AB Dynamics plc
AB Dynamics is a leading designer, manufacturer and provider of advanced products for testing and verification of Advanced Driver Assistance Systems ("ADAS") technology, autonomous vehicle development and vehicle dynamics to the global automotive research and development sector.
The Group is headquartered in Bradford-on-Avon, UK, employing approximately 215 staff. AB Dynamics currently supplies all the top automotive manufacturers, Tier 1 suppliers and service providers, who routinely use the Group's products to test vehicle safety systems and dynamics.
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