REG - Quartix Technologies - Directorate Succession

Quartix TechnologiesAnnouncement

20/12/2022 14:30

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RNS Number : 3655K  Quartix Technologies PLC  20 December 2022

 

Quartix Technologies plc

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

Directorate Succession

The Board of Quartix Technolgies plc ("Quartix or the "Company) is pleased to
announce that Russell Jones has today joined Quartix as an Independent
Non-Executive Director.

Russell has over 25 years of experience in marketing, strategy, business
development and operations in publicly listed technology companies including
Vodafone and CK Hutchison as well as with smaller private companies. All
included operations specialising in SaaS and recurring revenue business models
and some were involved in the telematics market. With extensive, recent
experience in B2B software marketing and European new market entry, Russell
will help to support Quartix in accelerating revenue growth in a sustainable
way. He also becomes chair of Quartix's ESG Committee, taking over from Andy
Walters. Russell holds a Masters degree in Chemical Engineering from Cambridge
University, and an MBA from Warwick Business School.

The Company also announces that Andy Walters has advised that he intends to
retire from the Board of Quartix. Andy led the Company for 20 years as CEO
from its incorporation in 2001 until the appointment of Richard Lilwall as CEO
last year. Since then he has served as a non-executive director, supporting
the Board as Quartix has continued its growth and geographic expansion. He
will remain on the Board until Q1 2023 in order to conduct an orderly
transition and handover with Russell Jones. Andy expects to stand down
following the publication of the Company's 2022 results.

Paul Boughton, Non-Executive Chairman commented;

"We are delighted to welcome Russell to the Board. His deep knowledge and
experience of growth oriented B2B recurring revenue business will be
invaluable as Quartix continues to grow and to scale up in new and existing
territories.

It is impossible to overstate Andy's contribution to building Quartix to the
market leading business it is today. From being the founder and first employee
in 2001 he has been instrumental in growing the Quartix business from its
inception, initially in the UK followed by expansion overseas in France and
the USA. He also led Quartix's successful IPO in November 2014, the
repositioning of the business to focus solely on the SME fleet market and more
recently the entry into other European markets

In addition he has orchestrated the transition to the current management team
that is equipped to drive future growth for Quartix. Speaking personally I
would like to thank him for his huge contribution to developing the Board into
the collegiate and professional institution that it is today. The Directors
wish him well in his retirement"

Andy Walters, Non-executive Director, commented:

"Since Richard Lilwall took over from me as CEO, just over a year ago, the
business has achieved significant growth in both the UK and internationally
and it is now the right time for me to step down from the Board. I am really
pleased to be able to leave the company under the capable leadership of both
Paul and Richard, and to welcome Russell to the Board. Russell brings
significant international and marketing experience, which will be of great
value to the business. In 2022 we will have achieved a record level of growth
in our subscription revenues, and I am confident that we have the right team
in place to ensure that we continue to grow these in the future."

In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies,
Russell Stuart Jones, aged 51, is, or has been within the last five years, a
director or partner in the following companies and partnerships:

  Current directorships and partnerships   Past directorships and partnerships held within the last five years
 JAAR Technology Ltd                       Optima Roaming Ltd

 

As at 20 December 2022, Russell Jones beneficially holds 323 Ordinary Shares,
representing 0.001% of the Company's issued share capital. These shares were
held prior to his appointment as a director.

There is no other information required to be disclosed under Rule 17 and
Schedule 2(g) of the AIM Rules for Companies.

For further information, please contact:

 Quartix  (www.quartix.com)                                          01686 806 663

 Richard Lilwall, Chief Executive Officer

 Emily Rees, Chief Financial Officer

 finnCap (Nominated Adviser and Broker)                              020 7220 0500

 Matt Goode / Seamus Fricker / Milesh Hindocha (Corporate Finance)

 Alice Lane / Sunila de Silva (Corporate Broking)

 

 

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