Telit Communications PLC Paolo Dal Pino appointed Chairman (7642X)
14 August 2018 - 8:10PM
UK Regulatory
TIDMTCM
RNS Number : 7642X
Telit Communications PLC
14 August 2018
Telit Communications PLC
Paolo Dal Pino appointed Chairman and other board changes
London, 14 August 2018 - Telit Communications PLC ("Telit", "the
Group", AIM: TCM), a global enabler of the Internet of Things
(IoT), has resolved to appoint Paolo Dal Pino as independent
non-executive Chairman, with effect from 1 September 2018 following
completion of customary and routine regulatory due diligence.
Simon Duffy, who was appointed interim Chairman on 25 June 2018,
will step down from the Chairman role and revert to his position as
the senior independent non-executive director.
Miriam Greenwood, who was reappointed to the Board on an interim
basis on 25 June to ensure the Board and its committees remained
quorate, will step down on 1 September as intended when she was
reappointed.
Paolo has held a number of executive, operational and financial
roles across a range of multinational businesses.
Until January 2018, he was CEO of Prometeon Tyre Group, the
industrial tyre business divested from the Pirelli Group.
Previously he was President of Pirelli America Latina for five
years.
He has more than 25 years' experience in the TMT industry. He
has been senior advisor to the Dutch private equity boutique Cyrte
Investments, which focuses on international investments in the
media and technology industry; Chief Executive Officer of Wind, the
third Italian mobile operator and the second wireline and broadband
operator; President of the Latin American operations of the Telecom
Italia Group; President of Tim Brazil and Chief Executive Officer
of the Seat Group.
He has also held roles in Telecom Italia, Espresso Group,
Mondadori/Verkerke Group and Fininivest Group.
Simon Duffy, Interim Chairman, commented:
"In line with our statement on 25 June, we have taken aboard the
views of our shareholders following our AGM and regarding the
appointment of a permanent Chairman.
"We are delighted to announce that, at the conclusion of that
process, Paolo will be joining as Chairman. He has considerable
expertise gained in a number of leading multinational corporations
across a range of sectors and will bring a wealth of valuable
experience to the Board.
"The Board is very grateful to Miriam for stepping into the
breach following the AGM and greatly appreciates the contribution
she has made."
Paolo Dal Pino said:
"I am delighted to be joining the Board at this important
juncture in Telit's development and I look forward to working with
the management and Board on the next stage of Telit's journey.
"Along with artificial intelligence and robotics, IoT will be
one of the most dynamic industrial sectors in the coming years and
Telit is very well-positioned to leverage its considerable
strengths, in terms of people and technology, and to compete
effectively in the sector."
Enquiries:
Telit Communications PLC Tel: c/o Instinctif Partners
Simon Duffy
Tel: +44 20 7220 0500
finnCap (Nomad and joint broker)
Henrik Persson/Giles Rolls (corporate
finance)
Tim Redfern/Richard Chambers (corporate
broking)
Berenberg (Joint Broker) Tel: +44 20 3465 2722
Chris Bowman/Mark Whitmore/Ben Wright
Instinctif Partners Tel: +44 20 7457 2077
Adrian Duffield/Chantal Woolcock
Additional Information
In accordance with the AIM Rules, the following information
required to be disclosed in relation to Paolo Dal Pino is set out
below. Other than this information, there is no further information
required to be disclosed under paragraph (g) of Schedule Two of the
AIM Rules.
Full name and age
Paolo Carlo Renato Dal Pino, aged 56
Current beneficial shareholding in the Group
0%
Current Directorships
SACE S.p.A
Former Directorships (previous five years)
Prometeon Tyre Group S.p.A
Pirelli Latam Participações Ltda
Pirelli Pneus Ltda
Pirelli Ltda
TP Industrial de Pneus Brasil Ltda
Pirelli de Colômbia S.A
Hospital Italiano de Buenos Aires
Terna S.p.A
Cesi S.p.A
Paolo Dal Pina founded and controls, but is not a director of,
a Brazilian holding and advisory company Bihai Empreendimentos
e Participações Ltda.
Paolo Dal Pino has an Italian company, Heliconia Srl. This company
has been inactive for a number of years and is in the process
of voluntary liquidation.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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