20 Mar 2014 07:00
PV Crystalox Solar PLC
Retirement and appointment of CFO
PV Crystalox Solar PLC ("PVCS" or the "Company" or the "Group") announces the retirement of Dr Peter Finnegan from the Board of the Company and from his role as Chief Financial Officer ("CFO"), and the appointment of a new CFO.
Peter has notified the Board of Directors that he will not stand for re-election at the Group's Annual General Meeting of Shareholders to be held on Thursday 22 May 2014 and that he will retire from office on 31 May 2014.
Peter first became involved in the Group in 1985 when he was the financial director of a group that had an interest in Crystalox Limited. Subsequently he became a key member of the team that built the PV Crystalox Solar Group and became CFO immediately prior to the IPO in 2007.
Notwithstanding his retirement, Peter will make himself available to the Company to ensure a smooth transition to the new CFO.
Appointment of new CFO:
The Board is pleased to advise that it has appointed Matthew Wethey as the new CFO in addition to his role as Group Secretary.
Matthew is a chartered accountant with 20 years' business experience and currently holds the position of Group Secretary. In this role his responsibilities have extended to liaising extensively with the current CFO on all investor and shareholder relations matters, and on the statutory reporting of the Group. He has also been instrumental in developing the corporate governance, human resources and administrative procedures of the Group since joining in January 2009. Matthew is not joining the Board of directors of the Company.
"I appreciate the opportunity to have served PV Crystalox Solar and its Shareholders over the past seven years as a Director," said Dr. Finnegan. "Now that the Board has steered the Group through the extremely challenging period in the past few years and the Group is now on a sound financial footing, I feel it is the appropriate time to stand down and pursue other interests. I wish the Group's entire team all the best in their continued efforts in the PV industry."
The Board expresses its gratitude to Peter for his contribution to the success of the Company and wishes him well for the future.
Enquiries:
PV Crystalox Solar PLC +44 (0) 1235 437188
Iain Dorrity, Chief Executive Officer
Peter Finnegan, Chief Financial Officer
Matthew Wethey, Group Secretary