Tungsten Corporation PLC DIRECTORATE CHANGE (5078A)
22 January 2020 - 6:00PM
UK Regulatory
TIDMTUNG
RNS Number : 5078A
Tungsten Corporation PLC
22 January 2020
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
22 January 2020
DIRECTORATE CHANGE
Tungsten Corporation PLC announces that after five years of
financial leadership, David Williams, Chief Financial Officer, will
be leaving the Group to pursue other opportunities and challenges.
He has agreed to stay at Tungsten for a six-month transition period
to ensure a smooth and seamless handover to his successor. He will
step down as CFO and from the Board on Friday 28 February 2020. A
search for a new CFO is underway and the Company plans for David's
replacement as CFO to be in place early in the new financial year
before his departure at the end of July.
Tungsten is appointing Ian Kelly FCA as interim Chief Financial
Officer. Ian is currently Group Finance Director at Tungsten,
having previously been the EMEA Finance Director at Octave Music
Group INC; Finance Director at Blackhawk Network and International
Finance Director at Axiomlaw.
Tony Bromovsky, Chairman of Tungsten said, "On behalf of the
Board, I would like to take this opportunity to thank David for his
leadership and significant contributions during his time at
Tungsten. Completing his fifth year as CFO, David leaves the Group
with a strong balance sheet to support our growth ambitions and has
significantly rationalised the cost base. We wish David the very
best for the future and look forward to engaging with Ian in his
new role."
Andrew Lemonofides, Chief Executive of Tungsten said, "I would
personally like to thank David for his strong contribution over the
past five years. He strengthened the finance organisation and
successfully stepped up as Interim CEO in the period prior to my
arrival. I wish him every success for the future."
David Williams said, "I wish all the best to the talented and
dedicated people who make Tungsten an exciting business with a
bright future. I am proud of the turnaround that we have achieved
over recent years and I leave Tungsten in a strong position as a
market leader and well placed for future success."
Enquiries
Tungsten Corporation plc
Andrew Lemonofides, Chief Executive Officer +44 20 7280 7713
Panmure Gordon UK Limited (Nominated Advisor)
Dominic Morley +44 20 7886 2500
Canaccord Genuity Limited (Broker)
Simon Bridges/Andrew Potts +44 20 7523 8000
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
ENDS
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END
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