Velocity Composites PLC New Board Appointment (9773I)
07 Aprile 2020 - 8:00AM
UK Regulatory
TIDMVEL
RNS Number : 9773I
Velocity Composites PLC
07 April 2020
7 April 2020
VELOCITY COMPOSITES PLC
("Velocity" or the "Company")
New Board Appointment
Velocity Composites plc (AIM: VEL.L), the leading supplier of
advanced composite material kits to the aerospace market, is
pleased to announce the appointment of Margaret Amos as an
independent non-executive director of the Company with immediate
effect.
Margaret has 27 years' experience working for Rolls Royce
Holdings plc and held a number of important senior roles in
Finance, Strategy Development, Supply Chain and Programme
management, including the position of Divisional Finance Director -
Engineering, IT and Corporate Sector. She has since developed a
significant portfolio of Non-Executive roles, including NMCN plc,
Trinity House and The Ombudsman Services. She is also a Corporate
Fellow for Denstone College. Margaret is a Fellow of both the
Chartered Institute of Management Accountants (CIMA) and the
Chartered Institute of Purchase and Supply (CIPs). She has a BA
degree in Secretarial Administration and French and a Masters in
Supply Chain Management from Nottingham University and is currently
studying for a Doctorate in Professional Studies.
Upon her appointment to the Board, Margaret will be Chair of the
Audit Committee and a member of the Remuneration and Nominations
Committees.
Andy Beaden, Chairman of Velocity, said:
"When Rob Soen and I joined the Board in late July 2019, we set
out to stabilise and strengthen the commercial leadership of
Velocity and focus on re-establishing good corporate governance.
This included the plan to recruit a suitably experienced third
Non-Executive director, with an objective of bringing onboard
additional relevant experience in senior finance and supply chain
management in the global aerospace sector.
I am therefore delighted to announce that Margaret Amos has
chosen to join us, bringing with her extensive world class
aerospace engineering, strategic finance and supply chain
experience. Her various senior roles at Rolls Royce are perfectly
matched to the skills that can support Velocity. We welcome her
wholeheartedly to the Board where, as a senior qualified
accountant, she will chair our Audit Committee. Her insight and
deep understanding of manufacturing, strategy and supply chain
management will be invaluable to Velocity in supporting our
customer services, in fulfilling our long term growth strategy, and
more immediately, helping us withstand and mitigate the effects the
COVID-19 pandemic."
Enquiries:
Velocity
Jon Bridges, Chief Executive Officer
Andy Beaden, Chairman +44 (0) 1282 577577
Cenkos (Nominated Adviser and Broker) +44 (0)20 7397 8900
Russell Cook +44 (0)20 7397 1977
Ben Jeynes +44 (0)20 7397 1974
Belvedere Communications (Financial PR) VelocityPR@belvederepr.com
Cat Valentine +44 (0) 7715 769 078
Keeley Clarke +44 (0) 7967 816 525
Margret Mary Amos (nee Lahiff), age 50, currently has no
interests in the Company's issued share capital and holds or has
held the following directorships or partnerships in the past five
years:
Current Directorships
A2 Business Solutions Ltd
Denstone College Limited
nmcn plc
The Ombudsman Service Limited
Trinitas Services Limited
Previous Directorships in the last five years
DHU Healthcare CIC
Ashbourne Care Company Limited
About Velocity
Velocity Composites is a manufacturer of composite material kits
for the aerospace industry, delivering engineered kits for its
customers to build component parts. The Company's clients include
multi-national manufacturers of composite parts and assemblies, who
in turn deliver to the world's leading civil and military aircraft
manufacturers. The Airbus A320, A330, A350, A380, Eurofighter
Typhoon, F35 Joint Strike Fighter, Boeing 737 and V22 Osprey are
all constructed using parts manufactured from Velocity's kits. The
Company's business model reduces the operating costs of preparing
composite materials ahead of their usage in the construction of an
aircraft part and as such, its offering is disposed to being
self-financing for aircraft parts' manufacturers. Velocity
Composites also exports to Europe and North America.
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END
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