Velocity Composites PLC Directorate Change (4043C)
October 11 2022 - 2:00AM
UK Regulatory
TIDMVEL
RNS Number : 4043C
Velocity Composites PLC
11 October 2022
11 October 2022
Velocity Composites plc
("Velocity" or the "Company")
Directorate Change
Velocity Composites plc (AIM: VEL.L), the leading supplier of
advanced composite material kits to aerospace to aerospace and
high-performance manufacturers , announces that Rob Soen,
Non-executive Director, will be stepping down from the Board on 31
October 2022, to focus on his other business interests.
Mr Soen will continue to act as an advisor, helping with
Velocity's commercial and supply chain strategy as the Company
grows. Annette Rothwell, Non-executive Director, will replace Rob
as Chair of the Remuneration Committee. Furthermore, David Bailey
will become Chair of the newly created Sustainability Committee to
support the Company's work in helping customers meet their global
ESG targets.
Andy Beaden, Chairman, Velocity, said: "The Board would like to
thank Rob for his significant contribution over the last three
years, especially his support during the pandemic. Rob's knowledge
of the aerospace industry and his supply chain experience has
helped pivot Velocity from a pure manufacturing business to a
technology-led composite supply chain services business. In his new
advisory role, he will focus on increasing opportunities for
Velocity with global Tier One Aerospace manufacturers.
"We have strengthened our Board in recent months with the
appointment of Annette Rothwell and David Bailey. They have already
provided a significant contribution towards the next steps of our
growth and will each lead on key areas of oversight and
development, including sustainability, which is of growing
importance to our customers.
"The business is in a strong position. Velocity has continued to
trade as expected in 2022. We are progressing well with expansion
opportunities. The Company plans to announce a trading update in
relation to the year ended 31 October 2022 in December 2022."
Enquiries:
Velocity Composites plc
Andy Beaden, Chairman
Jon Bridges, Chief Executive Officer +44 (0) 1282 577577
Cenkos Securities plc
Nominated Adviser and Broker
Katy Birkin
Ben Jeynes +44 (0) 20 7397 4000
SEC Newgate +44 (0)7540 106 366
Financial PR velocity@secnewgate.co.uk
Robin Tozer / Richard Bicknell
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END
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