8th Jun 2012 13:03
8 June 2012
Hydrodec Group plc
("Hydrodec" or "the Company")
Appointment of Chief Financial Officer
The Board of Hydrodec Group plc, the cleantech industrial oil re-refining group (AIM:HYR), is pleased to announce that Chris Ellis has been appointed as Chief Financial Officer Designate and will join the Company and the Board on 7 July 2012. He will be based in London, UK.
Paul Manchester will step down from the Board but will remain with Hydrodec based in Sydney; the Board would like to acknowledge the contribution Paul has made to the continued progress of Hydrodec.
Mr Ellis is a qualified chartered accountant and has more than 20 years' board level finance and management experience of running a range of large, complex international businesses as well as small and medium sized ventures, including a significant period within GE Capital. Since 2009, he has served as Global Chief Financial Officer of PPC Worldwide, a global healthcare business within UnitedHealth Group Inc, a New York Stock Exchange listed company with a market capitalisation of approximately US$60 billion.
Neil Gaskell, Chairman of Hydrodec, said: "Chris joins Hydrodec at an exciting time and I am delighted to welcome him to the Company. His extensive board and international business experience means Hydrodec has now assembled a world-class leadership team, under Ian Smale, to drive the business forward globally."
For further information please contact:
Hydrodec Group plc | 020 7907 9220 |
Neil Gaskell, Chairman | |
Ian Smale, CEO | |
Mike Preen, Head of Corporate and Legal Affairs | |
Numis Securities Limited (Nominated adviser/ joint broker) | 020 7260 1000 |
Nominated Adviser: Hugh Jonathan Corporate Broker: David Poutney, Alex Ham | |
Cenkos Securities plc (Joint broker) | |
Corporate Finance: Adrian Hargrave Sales: Christian Hobart | 020 7397 8900 |
Luther Pendragon (PR adviser to Hydrodec) | 020 7618 9100 |
Neil Thapar, Alexis Gore |
The following information on Christopher Ellis is provided pursuant to AIM Rule 17:
Full name and age: Christopher John Ellis (51)
Current directorships/partnerships:
None
Previous directorships/partnerships (past 5 years):
Phoenix Film Partners LLP (LLP member)
Notes to Editors:
Hydrodec's technology is a proven highly efficient oil re-refining and chemical process which was initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry and now supplies oil to several other industries. The Group takes spent transformer oil, including polychlorinated biphenyl ("PCB") contaminated oil, as the primary feedstock, which is then processed at its two plants enabling 99 per cent or greater recovery of oil for reuse while also eliminating PCBs, a toxic additive banned under international regulations, without environmentally harmful emissions.
Related Shares:
HYR.L