CT Automotive Group PLC Chief Financial Officer appointment (4805O)
01 February 2023 - 6:00PM
UK Regulatory
TIDMCTA
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 PR) Tel: +44 (0)20 3100 8540
Tim Rowntree
Charlie Baker
CTAutomotive@mhpgroup.com
Liberum (Nominated Adviser and Tel: +44 (0)20 3100 2000
Broker)
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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