SED.L Regulatory News (SED)

Wednesday 20 September 2023

Saietta Group Plc

("Saietta", the "Company" or the "Group")

Directorate Change

Saietta Group plc (AIM: SED), the electric vehicle drivetrain ("eDrive") specialist, announces the appointment of David Woolley as Chief Executive Officer ("CEO") with effect from 2 October 2023. Tony Gott, who has been acting as interim CEO since April 2023, will continue as Executive Chairman until the end of the financial year when he will revert to his previous role as Non-Executive Chairman.

David John Woolley, aged 61, brings a broad base of experience over a 35-year international career in leadership positions. David spent 10 years between 2011 and 2022 as CEO of Concentric AB, a Swedish NASDAQ listed company which is one of the world's leading pump manufacturers, focused on reducing emissions and maximising performance from diesel engines. Since 2017, he has focused on the transition from the internal combustion engine to EVs, specifically in the development of motors, controllers and software for eTrucks, eBuses and eMachines. 

Most recently David spent 17 months as CEO of VIE Kapital AB, investing in technology-based manufacturing companies primarily focussed on electrification and decarbonisation.

Tony Gott, Executive Chairman, said:

 "We are pleased to welcome David to the Saietta team at a key time for the business as we move into series production of our innovative eDrive solutions at our manufacturing plant in Sunderland, UK, and at the new production facility in Delhi, India. David brings unrivalled experience from across the industry including a deep understanding of Saietta's strategically important Indian market. His experience in driving the transition to electrification will be invaluable for the development of our future strategy and product portfolio."

Commenting on his appointment, David Woolley, said:

 "I believe that Saietta's innovative technologies have a pivotal role to play in delivering electrification, especially in the lightweight vehicle sector. I am delighted to join the team at such an exciting point on its strategic journey as we ramp up production in the UK and India and strengthen our product portfolio for the future. I am looking forward to working with the team to deliver sustainable, profitable growth."

Further Information

David John Woolley, aged 61, holds no current directorships with other companies, but held the following directorships or partnerships in the past five years:

There are no other matters which are required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

-Ends-

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About Saietta Group plc

Listed on the London Stock Exchange's AIM, Saietta is a global business that designs, develops and manufactures complete electric drivetrain (eDrive) solutions for established manufacturers of a broad range of electric vehicles. 

Saietta's breakthrough proprietary technologies include AFT (Axial Flux Technology) and RFT (Radial Flux Technology) motors, power electronics, powertrain controls, mechanical axles, transmissions and vehicle control units. Considerable flexibility is built into the core design, meaning solutions can be quickly and cost effectively tailored to a specific application.

Saietta works in a highly collaborative way with clients, driven by the belief that partnership is key to delivering world-class tailored solutions at pace. Saietta's engineering team takes time to deeply understand a client's brand, target market sector, competition and the services they require. Then Saietta develops a bespoke suite of products and services to fast-track the client to production with eDrive solutions which deliver a sustainable competitive advantage.