Last checked at 5 Feb 2020 07:00
5 February 2020
FireAngel Safety Technology Group plc
('FireAngel', the 'Group' or the 'Company')
Directorate changes
FireAngel (AIM:FA.), one of Europe's leading developers and suppliers of home safety products, announces certain Board changes in line with the Group's strategic plan to transition to a more technology-led connected home solutions provider.
In order to accelerate this transition, and to take advantage of the growing market awareness of the need to manage fire risks and safety, the Board is bringing forward its plans to ensure that it has the skills appropriate for a technology-led connected home solutions provider.
Graham Whitworth, Executive Director of the Company, will become a Non-Executive Director with effect from the release of the Company's audited final results for the year ended 31 December 2019 which is expected in late March 2020. Under Graham's leadership, sales grew by over 20% in 2019 and new customers and channels have been identified through which the Company is currently trialing its connected home products technology. As a Non-Executive Director, Graham will continue to have Business Development responsibilities, in particular working to exploit FireAngel's strong IP portfolio globally, including FireAngel PredictTM. John Conoley, Executive Chairman, will then take over line responsibility for sales and customer service.
Nick Rutter, co-founder and Chief Product Officer, will step down from the Board with immediate effect continuing in his current role to focus on connected home development. The Company's unique technological advantage at this exciting time is due, in particular, to Nick's foresight and vision.
Finally, Ashley Silverton has decided to step down as a Non-Executive Director at the Company's forthcoming Annual General Meeting which is expected to be held in late June 2020. Ashley, who joined the Board in 2011, has provided wise and experienced counsel through his corporate experience and financial expertise. The search is underway for a non-executive Director with business-to-business experience of the technology sector to succeed Ashley.
John Conoley, Executive Chairman of FireAngel, commented: "Graham and Nick are two of the most visionary people in the industry, and that vision has given the Company the opportunity for long term relevance and profitability through the strong IP and the relationships they have created. Ashley's specific expertise has been invaluable. I wish to thank each of them for their commitment and vision in positioning FireAngel at the start line of an exciting future. I look forward to continuing to work with Graham and Nick to realise the investment made in getting the business to this unique position."
For further information, please contact:
FireAngel Safety Technology Group plc | 024 7771 7700 |
John Conoley, Executive Chairman | |
Mike Stilwell, Group Finance Director
Shore Capital (Nominated adviser and broker) |
020 7408 4050 |
Tom Griffiths |
Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect and save lives by making innovative, leading-edge technology home safety products which are simple and accessible
FireAngel's principal products are smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com