Last checked at 27 Jan 2014 07:00
27th January, 2014
Revolymer plc
Directorate Change
Revolymer plc ("Revolymer" or the "Company"), the British polymer technology company, announces today that its CEO, Dr Roger Pettman, will leave the Company with effect from 31 January, 2014.
Dr. Pettman has been CEO of the business since its inception in 2005 and led the flotation on the AIM Market in July 2012. He has played a significant role driving the development of a broad portfolio of polymer-based IP which is now being applied to improve the performance of a variety of consumer products within the fast moving consumer goods industry and other industrial markets.
The Company has recently used its technology to enter the nicotine gum market in Canada, and is exploring expansion of this business area to the EU and USA.
Dr Pettman's particular expertise within Revolymer has been in the establishment of the business, having identified the business model of using novel polymers to improve the performance of existing consumer products. He is now looking forward to working on establishing other new ventures. The Board thanks Dr. Pettman for his dedicated service to the Company over many years, and wishes him well in his new endeavours. The shares owned by Dr Pettman are subject to an orderly marketing agreement, which expires on 31 December 2014.
The Board is taking steps to identify a new CEO with the commercial and operational experience to execute the Company's strategy of delivering commercialisation deals for its IP portfolio. Dr Bryan Dobson, Chairman of the Revolymer Remuneration Committee, is leading the search for the Company.
In the meantime, Revolymer CFO and Company Secretary Rob Cridland will become acting CEO, working closely with Dr David Pears, Chief Technology Officer, and Dr Jonathan Swanston, who heads the commercialisation of the Company's nicotine gum globally.
Ends
For further information please contact:
Revolymer plc | +44 (0) 1244 283 500 |
Rob Cridland | |
Panmure Gordon (UK) Limited | +44 (0) 20 7886 2500 |
Callum Stewart / Adam James (Corporate Finance) Adam Pollock / Charles Leigh-Pemberton (Corporate Broking) | |
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
David Dible / Ginny Pulbrook / Malcolm Robertson
|
About Revolymer
Revolymer is a technology company that designs, develops and formulates novel polymers to improve the performance of existing consumer products within the FMCG and other industrial markets. Revolymer's strategy is to generate significant and growing revenue streams by licensing its unique and proprietary technologies to manufacturers and marketers within these global high value markets. Current applications for the Group's technologies are in the household products, personal care and coatings & adhesives markets (together "Consumer Specialties") and the medicated chewing gum and confectionery chewing gum (together "Gum") markets.
www.revolymer.com