30 Oct 2013 07:00
OXFORD ADVANCED SURFACES GROUP PLC
(AIM: OXA)
Changes to Board structure
Oxford Advanced Surfaces Group ("OAS") the AIM listed technology developer targeting engineered materials and surface modification applications in the automotive, aerospace, communications and renewable energy markets announces changes to its Board of Directors. The changes to the Board's composition follow completion of the Company's strategic restructuring and cost reduction exercise as previously announced on 28 August 2013.
Philip Spinks, currently the Chief Financial Officer, will step up to the role of Chief Executive Officer on 15th November 2013. Adrian Meldrum will relinquish the role of Chief Executive to take up a senior role outside OAS but will remain with the OAS Board as a non-executive Director. In addition to his new role, Philip Spinks will continue to have responsibility for the Group's finances.
This change will further focus the Group's resources on the technical and commercial execution of the OntoTM platform. Philip has a thorough knowledge of the business, having served as a Board Director for over 5 years, and will drive the technical execution and commercial development of the business. Adrian will continue to provide his skills and knowledge in strategic planning and commercial execution through his continued role with the Company as a non-executive director. In addition Dr David Bott, a non-executive director, will support Philip as Chairman of our Technology Advisory Board.
Dr Peter Rowley, non-executive Chairman said:
"I would like to thank Adrian for his significant contribution to OAS and we are pleased that we will benefit from his continued involvement and expertise. We are delighted we have Philip as a natural successor who brings a breadth of experience from both his time at OAS and from his commercial experience in large multi-national organisations. Philip will have the support of both a strong and experienced Board and Technical Advisory Board as we continue to prioritise commercialisation of our proprietary OntoTM technology."
Philip Spinks said:
"I am thrilled to be given this opportunity to execute on our strategic plan and look forward to working with the Board and Adrian in his new role as a non-executive."
30 October 2013
Enquiries:
Oxford Advances Surfaces Group Plc
www.oxfordsurfaces.com
Adrian Meldrum, Chief Executive Officer
Philip Spinks, Chief Financial Officer T: 01865 854 807
W H Ireland Limited
www.wh-ireland.co.uk
John Wakefield T: 0117 945 3471