Volution Group PLS Regulatory News (FAN)

Wednesday 10 April 2019

Volution Group plc

Appointment of Chief Financial Officer Designate

Volution Group plc (the "Company", the "Group" or "Volution", LSE: FAN) a leading supplier of ventilation products to the residential and commercial construction markets, is pleased to announce the appointment of Andy O'Brien as Chief Financial Officer Designate.

This is further to the announcement on 21 January 2019 that Ian Dew, current Chief Financial Officer ("CFO"), would retire from Volution and his position as CFO during 2019. Andy's commencement date as CFO and appointment to the Board of Volution will be announced in due course with Ian continuing in the role of CFO with a short transitional period after Andy joins.

Andy joins Volution following nine years at Aggreko plc, a FTSE-250 global provider of temporary power, heating and cooling solutions, where he held numerous senior finance roles including most recently Finance Director, Power Solutions. He has a broad international background working internationally in a global business environment and has lived and worked in the Nordics as well as the UK, Dubai and Singapore. Throughout his career, Andy has operated in environments where cost control has been critical and in his role at Aggreko, Andy also oversaw revenues totalling $1.2 billion and worked on a number of international acquisitions.

Prior to joining Aggreko, Andy spent four years at Vetco Gray, a supplier of products, systems and services for onshore and offshore drilling and production, and six years at Lafarge SA, an international building products company based in France.

Ronnie George, Chief Executive Officer of Volution, commented:

"We are delighted to welcome Andy to the Group. He is a highly accomplished senior executive who brings a wealth of financial experience and understands what it takes to grow an international business. Andy joins Volution Group at an exciting time in its development and we look forward to working with him as we continue our journey."

Andy O'Brien, CFO Designate, said:

"I am very pleased to be joining Volution. The Group has grown rapidly since IPO, establishing itself as a major international provider of ventilation, and continues to have an exciting future ahead of it. I look forward to working with the Board and the teams around the Group and being part of the next phase in Volution's evolution."

A further announcement will be made when Ian Dew's retirement date and Andy O'Brien's commencement date have been determined and the information required under section 430(B) of the Companies Act 2006 in relation to Ian Dew's retirement will be made available on Volution's website on retirement.

There is no additional information required to be disclosed pursuant to paragraph LR9.6.13R of the Listing Rules of the Financial Conduct Authority.

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For further information: 

Legal Entity Identifier: 213800EPT84EQCDHO768.

Note to Editors:

Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction markets in the UK, the Nordics, Central Europe and Australasia.

The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division. The Ventilation Group comprises 16 key brands - Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing Buildings, Fresh, PAX, VoltAir, Welair, Kair, Air Connection, inVENTer, Ventilair, Simx and Ventair, focused primarily on the UK, the Nordic, Central European and Australasian ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM (Torin-Sifan) division supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe. For more information, please go to: www.volutiongroupplc.com