REG - Saietta Group PLC - Directorate Change

SaiettaAnnouncement

20/09/2023 07:00

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RNS Number : 9631M  Saietta Group PLC  20 September 2023

Wednesday 20 September 2023

Saietta Group Plc

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

 

Directorate Change

 

Saietta Group plc (AIM: SED), the electric vehicle drivetrain ("eDrive")
specialist, announces the appointment of David Woolley as Chief Executive
Officer ("CEO") with effect from 2 October 2023.  Tony Gott, who has been
acting as interim CEO since April 2023, will continue as Executive Chairman
until the end of the financial year when he will revert to his previous role
as Non-Executive Chairman.

 

David John Woolley, aged 61, brings a broad base of experience over a 35-year
international career in leadership positions. David spent 10 years between
2011 and 2022 as CEO of Concentric AB, a Swedish NASDAQ listed company which
is one of the world's leading pump manufacturers, focused on reducing
emissions and maximising performance from diesel engines.  Since 2017, he has
focused on the transition from the internal combustion engine to EVs,
specifically in the development of motors, controllers and software for
eTrucks, eBuses and eMachines.

Most recently David spent 17 months as CEO of VIE Kapital AB, investing in
technology-based manufacturing companies primarily focussed on electrification
and decarbonisation.

 

Tony Gott, Executive Chairman, said:

 "We are pleased to welcome David to the Saietta team at a key time for the
business as we move into series production of our innovative eDrive solutions
at our manufacturing plant in Sunderland, UK, and at the new production
facility in Delhi, India. David brings unrivalled experience from across the
industry including a deep understanding of Saietta's strategically important
Indian market. His experience in driving the transition to electrification
will be invaluable for the development of our future strategy and product
portfolio."

Commenting on his appointment, David Woolley, said:

 "I believe that Saietta's innovative technologies have a pivotal role to
play in delivering electrification, especially in the lightweight vehicle
sector. I am delighted to join the team at such an exciting point on its
strategic journey as we ramp up production in the UK and India and strengthen
our product portfolio for the future. I am looking forward to working with the
team to deliver sustainable, profitable growth."

 

Further Information

David John Woolley, aged 61, holds no current directorships with other
companies, but held the following directorships or partnerships in the past
five years:

 Previous directorships or partnerships
 Alfdex AB (50:50 JV with Alfa Laval)  LICOS Trucktec GmbH
 Concentric Skånes Fagerhult AB        Concentric S.R.L.
 Concentric Innovations AB             Concentric SARL
 Concentric Pumps Limited              Concentric Americas Inc.
 Concentric Birmingham Limited         Concentric Rockford Inc.
 Concentric VFP Limited                Concentric USH LLC
 Complete Parts Limited                Concentric Holdings Inc.
 Concentric Engineering Limited        Concentric Itasca Inc.
 Concentric (Tipton) Limited           Concentric Allied LLC
 Concentric Overseas Limited           Concentric EMP
 Concentric US Finance 1 Limited       Concentric EMP Stewart
 Concentric US Finance 2 Limited       Concentric EMP Greenfield
 Concentric Argentina Limited          Concentric EMP Advanced
 Landon Kingsway Limited               Concentric Pumps Pune Private Limited
 Concentric Germany GmbH               Concentric Pumps Hong Kong Limited
 Concentric Hof GmbH                   Concentric Pumps (Suzhou) Co Limited

 

There are no other matters which are required to be disclosed in accordance
with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

 

 

-Ends-

 

For any further enquiries, please contact:

 

 Saietta Group                              via FTI

 Tony Gott, Executive Chair

 Steven Harrison, Chief Financial Officer
 Canaccord Genuity (Nomad and Broker)       0207 523 8000

 Henry Fitzgerald-O'Connor / Harry Pardoe
 FTI Consulting (Financial PR advisor)      Tel: +44 (0) 20 3727 1000

 Ben Brewerton / Dhruv Soni                 saietta@fticonsulting.com

 

About Saietta Group plc

Listed on the London Stock Exchange's AIM, Saietta is a global business that
designs, develops and manufactures complete electric drivetrain (eDrive)
solutions for established manufacturers of a broad range of electric
vehicles.

Saietta's breakthrough proprietary technologies include AFT (Axial Flux
Technology) and RFT (Radial Flux Technology) motors, power electronics,
powertrain controls, mechanical axles, transmissions and vehicle control
units. Considerable flexibility is built into the core design, meaning
solutions can be quickly and cost effectively tailored to a specific
application.

Saietta works in a highly collaborative way with clients, driven by the belief
that partnership is key to delivering world-class tailored solutions at pace.
Saietta's engineering team takes time to deeply understand a client's brand,
target market sector, competition and the services they require. Then Saietta
develops a bespoke suite of products and services to fast-track the client to
production with eDrive solutions which deliver a sustainable competitive
advantage.

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