REG - CML Microsystems PLC - Board & Senior Management Appointments

CML MicrosystemsAnnouncement

01/12/2023 07:00

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RNS Number : 3076V  CML Microsystems PLC  01 December 2023

1 December 2023

 

CML Microsystems Plc

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

Board & Senior Management Appointments

CML, which develops mixed-signal, RF and microwave semiconductors for global
communications markets, is pleased to announce that Mark McCabe has been
appointed as an Executive Director to the Board of the Company as Chief
Operating Officer, effective immediately.

 

Mark joined the Group in 2016 as Managing Director of the Communications
business division. Immediately prior to joining CML, Mark was UK business unit
manager for Air Liquide, a world leader in the supply of gases to the nuclear,
food and electronics markets. Previously he gained extensive experience within
the electronics component industry serving as Managing Director of Semelab (a
subsidiary of TT Electronics PLC), as executive VP at SRC Devices, Inc. (a
company acquired by Littelfuse Inc) and through a variety of sales, marketing
and operational roles at Semitron, where he participated in a successful MBO.
Mark qualified as an Electrical and Electronic Engineer working in various
Ministry of Defence establishments.

 

Nigel Clark, Executive Chairman of CML, said: "Mark brings to the Board a deep
understanding of our business and has played an important role in executing
our growth strategy whilst working to continuously improve our operational
effectiveness."

 

In a further move to support the Group's long-term sustainable growth
objectives, Michelle Jones has recently been appointed to the senior
management position of Director of Finance and Company Secretary.

 

Michelle joined the Company in 2018 as Group Financial Controller and in July
2020 was appointed to the additional role of Company Secretary.

 

Prior to CML, Michelle spent ten years at the Regis Group Plc, a leading real
estate company, where she held the position of Group Financial Controller.
During previous roles Michelle held similar positions at Derichebourg
Multiservices, a company providing servicing facilities to the aircraft
industry and at Thermos Limited, a manufacturer and distributor of Thermos
branded products throughout Europe. Earlier experience included a number of
management accountant roles, including working for an NHS trust. She is a
qualified chartered certified accountant, holding a FCCA.

 

Chris Gurry, Group Managing Director commented: ''I am delighted to welcome
Michelle to this new role. She is a key member of the management team, in
recent years helping to successfully steer the business through a period that
has included strategic M&A activity, the successful installation of a
global ERP system and operational challenges associated with the pandemic."

 

Please refer to Annex 1 for all further disclosure relating to Rule 17 or
paragraph (g) of Schedule 2 of the AIM Rules for Companies.

 

 CML Microsystems Plc

  Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Executive Chairman

 Shore Capital                           Tel: +44(0)20 7408 4090

 Toby Gibbs

 James Thomas

 Lucy Bowden

 Fiona Conroy (Corporate Broking)

 Alma PR                                 Tel: +44 (0)20 3405 0212

 Josh Royston

 Andy Bryant

 Matthew Young

 

ANNEX 1

Regulatory Disclosures (in accordance with Rule 17 and Schedule Two paragraph
(g) of the AIM Rules for Companies)

 

Save for the information set out above and below, there are no further
disclosures to be made in accordance with Rule 17 and Schedule Two paragraph
(g) of the AIM Rules for Companies in respect of the appointments of Mark John
McCabe, aged 54. Mark McCabe currently does not hold any shares in the
Company.

 

Mark McCabe, is, or has been in the previous five years, a director of the
following companies:

 

 Current directorships           Previous directorships
 CML Microcircuits (UK) Limited

 CML Microcircuits (USA) Inc

 Microwave Technology, Inc.

 PRFI Limited

 

About CML Microsystems Plc

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication markets with strong growth
profiles and high barriers to entry. It has secured a diverse, blue chip
customer base, including some of the world's leading commercial and industrial
product manufacturers.

The spread of its customers and diversity of the product range largely
protects the business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven by factors
such as the appetite for data to be transmitted faster and more securely, the
upgrading of telecoms infrastructure around the world and the growing
prevalence of private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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