REG - CT Automotive Group - Chief Financial Officer appointment

CT AutomotiveAnnouncement

01/02/2023 07:00

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RNS Number : 4805O  CT Automotive Group PLC  01 February 2023

1 February 2023

CT AUTOMOTIVE GROUP PLC

("CT Automotive" or the "Company")

Chief Financial Officer appointment

CT Automotive, a leading designer, developer and supplier of interior
components to the global automotive industry, is pleased to announce that Anna
Brown will succeed David Wilkinson as Chief Financial Officer of CT
Automotive.

Anna joins the Company as Chief Financial Officer-designate today (1 February
2023) and will be appointed to the Board as an Executive Director of the
Company on 28 April 2023, subject to the satisfactory completion of due
diligence by the Company's Nominated Adviser, Liberum Capital Limited.

As previously announced, David will remain with the Company until 28 April
2023. This will enable David to support the management of the Company's
year-end financial results as part of an orderly handover.

Anna brings substantial experience in strategic and financial roles in listed
companies to CT Automotive. Prior to her appointment, Anna spent eight years
at McCarthy & Stone, latterly as Director of Strategic and Corporate
Finance and Group Company Secretary, having previously held various roles
including Group Financial Controller, Head of Accounting & Reporting, and
IPO Project Director. Anna has also held several finance roles at KPMG, and is
a Fellow of the Association of Chartered Certified Accountants.

Simon Philips, Executive Chairman of CT Automotive, said:

"The Board is delighted to welcome Anna to CT Automotive. She brings
substantial listed company and financial experience to the role that will be
invaluable as we continue to execute our growth strategy."

Anna Brown said:

"CT Automotive has grown to become one of the leading manufacturers of
interior car parts for some of the world's biggest automotive brands. The
Company has an exciting future ahead and I am very much looking forward to
working with the Board and the senior management team to support the Company's
continued development over the coming years."

 

For further information please contact:

 

 CT Automotive                                                                         via MHP

 Simon Phillips, Executive Chairman

 Scott McKenzie, Chief Executive Officer

 David Wilkinson, Chief Financial Officer

 MHP (Financial                                                                        Tel: +44 (0)20 3100 8540
 PR)

 Tim Rowntree

 Charlie Baker

 CTAutomotive@mhpgroup.com (mailto:CTAutomotive@mhpgroup.com)

 Liberum (Nominated Adviser and Broker)                                                Tel: +44 (0)20 3100 2000

 Richard Lindley

 Benjamin Cryer

 

 

 

Notes to editors

CT Automotive is engaged in the design, development and manufacture of bespoke
automotive interior finishes (for example dashboard panels and fascia
finishes) and kinematic assemblies (for example air registers, arm rests,
deployable cup holders and storage systems), as well as their associated
tooling, for the world's leading automotive original equipment suppliers
("OEMs") and global Tier One manufacturers.

 

The Group is headquartered in the UK with a low-cost manufacturing footprint.
Key production facilities are located in Shenzhen and Ganzhou, China
complemented by additional manufacturing facilities in Mexico, Turkey and the
Czech Republic.

 

CT Automotive's operating model enables it to pursue a price leadership
strategy, supplying high quality parts to customers at a lower overall landed
cost than competitors. This has helped the Group build a high-quality roster
of OEM end customers, both directly and via Tier One suppliers including
Faurecia and Marelli. End customers include volume manufacturers, such as
Nissan, and luxury car brands such as Bentley and Lamborghini. In addition,
the Group supplies electric car manufacturers, including Lucid. It has also
recently started working with e.Go Mobile, a German manufacturer which plans
to launch a series of small electric vehicles for the budget end of the
market.

 

The Group currently supplies component part types to over 47 different models
for 19 OEMs. Since its formation, the Group has been the only significant new
entrant into the market, which is characterised by high barriers to entry.

 

 

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