1st Jun 2007 07:01
Gyrus Group PLC01 June 2007 1st June 2007 Gyrus Group PLC Appointment of Chief Executive Reading, UK - Gyrus Group (GYG.L) a leading supplier of medical devices whichreduce trauma and complications in surgery, announces that Roy Davis, currentlyChief Operating Officer, will become Chief Executive of Gyrus Group PLC withimmediate effect. As Chief Operating Officer, Roy Davis (51) has driven the ongoing process ofimproving operating margins whilst overseeing the smooth integration of ACMI,which Gyrus acquired for $497 million in 2005. Roy has over 25 years of linemanagement and strategic consulting experience and was a Non Executive Directorof Gyrus from its flotation in 1997 to 2003 when he became COO. Since joiningGyrus, Roy has been instrumental in introducing global operational improvementinitiatives including "Lean Manufacturing" and R&D process improvements todeliver greater operational and development effectiveness. More recently, hehas been responsible for all aspects of operations including managing theintegration process of Gyrus and ACMI, which is aimed at improving operatingperformance while positioning the company for future growth. Brian Steer, Non Executive Chairman, of Gyrus said: "Gyrus has grown from a small loss-making technology company into a profitableFTSE 250 Medical Device business with revenues of over £200 million and a marketcapitalisation of over £700 million. This has been achieved both through organicgrowth and acquisitions. Roy has led the integration of these acquisitions andhas driven a complete Operations and R&D restructuring programme, which hasdelivered significant margin improvement. His promotion is well deserved andfollows an extensive review of internal and external candidates. I will remainas Chairman of the Group and believe with Roy at the helm supported by SimonShaw and a strong management team we will continue to drive this businessforward." Roy Davis, Chief Executive, of Gyrus said: "I am delighted and honoured to become CEO of Gyrus. The Company is wellpositioned for the future with strong management, great people and world-classtechnologies. I look forward to leading the company to further success." As previously disclosed, Brian Steer (73), will relinquish his executive rolewith the appointment of the CEO and becomes non-executive Chairman as fromtoday. Enquiries: Gyrus Group PLC 01189 219 750Brian Steer ChairmanRoy Davis Chief Executive 0777 400 5693 Financial Dynamics 0207 831 3113Ben Atwell Notes to Editors: Prior to joining Gyrus as Chief Operating Officer, Roy was Chief Executive ofNTERA, a nanotechnology business based in Dublin and Geneva. Before that, hespent nearly ten years at the global management consulting company, ArthurD.Little, where he was Vice President and Global Head of its OperationsManagement practice and Managing Director of the UK & Scandinavia forC-Quential, its Telecoms, Information, Media and Electronics business. He hasalso held senior operational positions at Reuters, Tricom and Molex in the US,Taiwan and Europe. He has an MBA from London Business School and a BSc (Hons)Degree in Mechanical Engineering from Southhampton University. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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