7th May 2008 07:01
Turbo Power Systems Inc07 May 2008 7 May 2008 DIRECTORATE CHANGE TURBO POWER SYSTEMS ANNOUNCES APPOINTMENT OF PAUL SUMMERS AS CHIEF EXECUTIVE OFFICER The Board of Turbo Power Systems Inc ("TPS" or "the Company"), the innovativeelectrical machines and electronic systems provider, today announces that it hasappointed Mr Paul Summers as Chief Executive Officer (CEO). Mr Summers will takeup the role effective from 1st June 2008. As announced on 2nd May 2008, MichaelHunt, the existing CEO, will remain at the Company as Director of BusinessDevelopment and will resign from the Company's Board of Directors. Mr Summers joins TPS from the FTSE 250 listed, Ultra Electronics Group, where heserved as Managing Director of Ultra's Command & Control Systems business. Pauljoined Ultra in 1996 as the Business Manager responsible for their AirportSystems business and was promoted to his current role in 2001 after drivingsubstantial growth in his previous role. Prior to joining Ultra, Mr Summers heldmanagement positions at Easams GmbH in Munich and Easams UK Ltd. He is aqualified engineer with over 20 years experience in high-tech and electronicsystems companies. Commenting on Mr Summers' appointment, Graham Thornton, Chairman, said: "Paul has a proven track record in running high-tech manufacturing businesseswith hands on experience of controlling design, manufacture, finance and sales.His experience and know-how will stand us in good stead as the Company continuesits drive towards profitability and long term growth." Under Schedule 2, paragraph (g) of the AIM Rules, the following information isdisclosed in relation to Paul Summers in addition to the information above: Full Name: Paul Thomas SummersAge: 45 yearsDirectorships held in the past five years: None Other than the information contained within this announcement, there is nofurther information required by Schedule 2, paragraph (g) of the AIM Rules to bedisclosed with regards to Paul Summers. For further information, please contact: Turbo Power Systems Tel: +44 (0)20 8564 4460Richard Bayliss Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken CroninMichael Turner KBC Peel Hunt Tel: +44 (0)20 7418 8900Oliver ScottNicholas Marren Company Website: www.turbopowersystems.com About Turbo Power Systems Turbo Power Systems Inc (AIM:TPS.L). is a leading UK based designer andmanufacturer of innovative power solutions. The Group's products are all basedon its core technologies of power electronics and high speed motors andgenerators and are sold into a number of market sectors including aerospace,rail, and various industrial sectors. The Company's products provide improvedefficiency and reduced energy consumption compared to existing technologies. Turbo Power System's existing customers include bluechip companies such asHamilton Sundstrand, Bombardier, The National Rail Equipment Company, EatonAerospace and Lotus. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TPS.L