21 Jun 2013 11:50
21 June 2013
Eco City Vehicles PLC
("ECV" or "the Group")
Appointment of Finance Director
Eco City Vehicles PLC, the co-developer and supplier of the London licensed Mercedes taxi and light commercial vehicles, is pleased to announce the appointment of Jonathan Moritz as Finance Director with effect from 24 June 2013.
He succeeds Ran Oren who is stepping down as Interim Finance Director following the Group's return to EBITDA profit last year.
Mr. Moritz, aged 45, joins the Group as it prepares for a new growth phase under a new executive team led by Trevor Parker, who came in as chief executive in April this year. A qualified chartered accountant, Mr Moritz brings more than 18 years senior corporate experience, in particular from the automotive and engineering sectors. In a nine-year stint at Inchcape PLC, he served as Finance Director of three of its subsidiaries - Daihatsu UK, Seaking Automotive, and Inchcape Fleet Solutions.
Mr. Moritz previously also worked as a consultant to Avis Europe, and as a Divisional Finance Director in the global Pattonair division of UMECO PLC. Following the sale of Pattonair to private equity, he served as its Group Operations Finance Director.
John Swingewood, Chairman of ECV, said: "Jonathan joins the Group at an exciting time as ECVdevelops a long term strategic plan to grow vertically into the London licensed taxi industry and diversify into the light commercial vehicle market. His industry background complements the executive team's experience in the motor industry and he will play a key part in delivering the Group's corporate and financial goals in the years ahead.
"At the same time I would like to thank Ran for his invaluable contribution over the past year and half and we wish him well for the future."
Mr. Moritz said: "I am delighted to join ECV which has successfully cemented a strong position in the London taxi market due to the increasingly popular Mercedes Vito. I look forward to working with Trevor and the Board at an exciting time for the Group as we look to build for long term growth."
Mr. Moritz held the following directorships in the five years prior to this appointment:
Pattonair Group Limited Pattonair UK Limited Pattonair Holdings Limited Pattonair Limited Orchard House Limited Pattonair Properties Limited Aviation Supplies Co. Limited Pattonair (Derby) Limited Quicksilver Midco Limited Pattonair (Wolverhampton) Limited Pattonair USA Inc Uniseal Inc Pattonair Italy SARL Pattonair Xi'an Trading Limited Pattonair Asia Pte Ltd
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There are no further disclosures to be made in accordance with Schedule 2(g) of the AIM Rules.
Enquiries:
Eco City Vehicles plc | |
Trevor Parker, Chief Executive Officer | +44 20 7377 2182 |
Luther Pendragon | |
Neil Thapar, Alexis Gore, Sam MacAuslan | + 44 20 7977 0020 |
Numis Securities Limited | |
Stuart Skinner (Nominated Adviser) | +44 20 7260 1000 |
David Poutney (Corporate Broker) |