SVR.L Regulatory News (SVR)

13 Jun 2008 16:10



SERVICEPower TECHNOLOGIES PLC

("SERVICEPower" OR THE "COMPANY")

Board Changes 

13 June 2008 - SERVICEPower (LSE: SVR), a market leader for outsourced service and field management, announced at its Annual General Meeting today the retirement of Barry Welck as Chairman of the Board with immediate effect. He remains as a member of the Board until 31 December 2008. Lindsay Bury, currently Non-Executive Director, has been appointed Chairman effective immediately.

Mr. Welck was part of the founding team that bought out SERVICEPower from ICL in December 1996 and has been Chairman of the Company for ten years. During this time, the Company's annual turnover has grown to over £14 million, with successful operations established in both the UK and throughout the U.S.

Mr. Bury is currently Chairman of Electric and General Investment Trust and Bango plc. He has in recent years been a Non-Executive Director of The Sage Group, Chairman of the South Staffordshire Group, Unicorn plc and a Director of Roxboro plc as well as a number of private software and technology companies. 

Mark Duffin, CEO, SERVICEPower, and the incoming Chairman of the Company, Lindsay Bury commented, "On behalf of everyone at the company we would like to thank Barry for his guidance of ServicePower over the last ten years and we are pleased that he has consented to continue to serve as a non executive director until the end of the current financial year." Mark Duffin further states, "the Company is now well positioned for its next phase of growth, ready to capitalise on our strong market position and growing outsourcing offering in the US and Europe."

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About SERVICEPower

SERVICEPower, publicly traded on the London Stock Exchange (LSE:SVR), allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorized service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by SERVICEPower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience.