Board Changes (7305F)

TIDMTPS

RNS Number : 7305F

Turbo Power Systems Inc

20 June 2012

Turbo Power Systems Inc. ("TPS" or the "Company")

Board Changes

TPS, the innovative electrical machines and electronic systems provider, announces the appointment of Mr Carlos Neves as Chief Executive Officer.

After having worked in the energy industry for over 20 years, including positions with ExxonMobil in Brazil, Argentina and USA, and more recently, within Corporate Planning for Cosan in Brazil, Carlos joined TPS in September 2011 as Chief Financial Officer. In this position, he has been part of the management team that has implemented many operational and financial improvements across TPS since his appointment.

Carlos succeeds Mr Peter Brown, who has resigned from his role as Chief Executive Officer and as a director of the Company and its subsidiary for personal reasons, with effect from 30 June 2012.

In addition, Mr Charles Rendell, currently Vice-President of Finance at the Company, will be appointed as Chief Financial Officer on 1 July 2012. A chartered accountant by training, Mr Rendell, 46, has over 20 years' experience in technology companies, latterly with ARC International plc.

James Pessoa, Chairman of TPS, said:

"We would like to thank Peter for his significant contribution to the growth of the business over the last year. We wish him every success in his future career.

Carlos has brought a strategic and analytical prospective to the future growth prospects of TPS. I am confident that he will continue to make a strong contribution and lead TPS as we continue to refocus and build the business."

As neither Mr Neves nor Mr Rendell are proposed to be appointed to the Board of TPS, there are no details to be disclosed pursuant to Schedule 2G of the AIM Rules.

For further information, please contact:

 
 Turbo Power Systems   Tel: +44 (0)20 8564 4460 
  Inc. 
 Carlos Neves 
 
 FinnCap               Tel: +44 (0)20 7600 1658 
 Marc Young/ Henrik 
  Persson 
 
 
   Kreab Gavin Anderson (PR)           Tel: +44 (0)20 7074 1800

Robert Speed/Georgia Lewis

This information is provided by RNS

The company news service from the London Stock Exchange

END

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