(Alliance News) - Saietta Group PLC on Wednesday has appointed David Woolley as chief executive officer, with effect from October 2.
The Bicester, England-based engineering firm said Tony Gott, who has been acting as interim CEO since April, will continue in his role as executive chair until the end of the financial year ending March 31, 2024, when he will revert to his previous capacity as non-executive chair.
Saietta said Woolley "brings a broad base of experience over a 35-year international career in leadership positions".
This includes Woolley spending 10 years between 2011 and 2022 as CEO of Concentric AB, a Swedish Nasdaq-listed company, which Saietta described as "one of the world's leading pump manufacturers, focused on reducing emissions and maximising performance from diesel engines".
Since 2017, Saietta said Woolley has focused on the transition from the internal combustion engine to electric vehicles, specifically in the development of motors, controllers and software for eTrucks, eBuses and eMachines.
Most recently, Woolley was CEO of VIE Kapital AB, Saietta said, investing in technology-based manufacturing companies primarily focussed on electrification and decarbonisation.
"We are pleased to welcome David to the Saietta team at a key time for the business as we move into series production of our innovative eDrive solutions at our manufacturing plant in Sunderland, UK, and at the new production facility in Delhi, India," said Gott.
"David brings unrivalled experience from across the industry including a deep understanding of Saietta's strategically important Indian market. His experience in driving the transition to electrification will be invaluable for the development of our future strategy and product portfolio."
Woolley commented: "I am delighted to join the team at such an exciting point on [Saietta's] strategic journey as we ramp up production in the UK and India and strengthen our product portfolio for the future. I am looking forward to working with the team to deliver sustainable, profitable growth."
Shares in Saietta were down 6.0% at 43.22 pence each in London on Wednesday afternoon.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
