REG - Pinewood Tech Gp PLC - Directorate Change Update

Pinewood TechnologiesAnnouncement

31/05/2024 07:00

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RNS Number : 5447Q  Pinewood Technologies Group PLC  31 May 2024

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FOR IMMEDIATE RELEASE

 

31 May 2024

 

Pinewood Technologies Group PLC

("Pinewood" or the "Company")

 

Directorate Change Update

Further to the announcement made on 30 June 2023 regarding the position of
Non-Executive Chair of the Company, the Nomination Committee has concluded a
search process to identify a replacement. During this period, Pendragon PLC
reached an agreement with Lithia Motors Inc to dispose of its UK Motor and
Leasing operations and reposition the Company as a standalone
Software-as-a-Service group.

Against this backdrop, the Nomination Committee considered many strong
external candidates who have been excited about the Company's prospects, and
also included Ian Filby in the process after he expressed a willingness to be
in contention for the position.

The Committee has now concluded this process and is pleased to report that Ian
Filby is to remain as Non-Executive Chairman. The Committee is confident that
his stewardship provides Pinewood with continuity and stability following a
period of considerable change, and this will be important as the Company
executes its strategy at pace to capitalise on the significant opportunities
in its end markets.

Enquiries:

 

 Jefferies International Limited (Joint Corporate Broker)  +44 (0) 20 7029 8000
 Philip Noblet
 Thomas Bective
 Jordan Cameron

 Berenberg (Joint Corporate Broker)                        + 44 (0) 20 3207 7800
 Ben Wright

 Headland Consultancy (PR & Communications)                +44 (0) 20 3805 4822
 Henry Wallers
 Jack Gault

 

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