19 Jan 2015 09:09
19 January 2015
Torotrak plc
("Torotrak" or the "Group")
Directorate Change
Torotrak (LSE: TRK) today confirms that Jeremy Deering, Chief Executive, will resign his position on or before 31 May 2015. This intention was described in the Company's Half Year Report issued in November 2014, since which time Jeremy has been providing continuing support as part of an orderly hand over whilst the Board identifies an appropriate successor.
Nick Barter, Chairman said:"On behalf of the Board, I would like to thank Jeremy for his leadership of the Company over the last three years and prior to that, for his role in securing the key licensing arrangements that funded the Company to get to where it is today".
For more information, please visit www.torotrak.com
For more information, please contact:
Torotrak plc Nick Barter, Chairman / Rex Vevers, Finance Director |
Tel: +44 1772 900931
|
Charles Stanley Securities (financial adviser and joint broker to Torotrak) Marc Milmo / Karri Vuori / Carl Holmes |
Tel: +44 20 7149 6000
|
N+1 Singer (joint broker to Torotrak) Ben Wright |
Tel: +44 20 7496 3000
|
Tavistock Communications (financial PR) Simon Hudson / Lulu Bridges / James Collins |
Tel: +44 20 7920 3150 or +44 (0)7966 477256 |
Notes to editors
Torotrak is a leading developer and supplier of variable drive transmission, engine boosting and kinetic energy recovery systems for vehicles. Our portfolio of technology solutions substantially improves fuel economy and reduces CO2 emissions in vehicles through harnessing the power of supercharging to enable engine downsizing, capturing and recycling energy that would otherwise be lost and managing the engine at the optimum point.
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