Volex PLC : - Board Changes
05/03/2012| 05:59am US/Eastern
Recommend:
Volex plc, (the "Company"), the global
provider of electrical, digital and optical connections,
today announces the appointment of David McKinney as Chief
Operating Officer, a new position. Mr McKinney will also
serve as an executive member of the Volex plc board of
directors. His appointments will be effective as of
today, 2 May 2012.
David most recently served as Chief Operating Officer
of Pace plc from November 2005 to January 2012 where he also
served as a member of the board of directors. During his
tenure at Pace, David delivered the operational platform that
supported the company's growth in annual revenues from
circa $350 million to $2.3 billion and cost improvements that
contributed to turning the company from a loss-making
position to an operating profit margin of greater than
6%.
Ray Walsh, CEO of Volex stated: "We are delighted
that David is joining our team. With the turnaround of Volex
well underway, we are now looking to the next phase of our
transformation under which we will pursue substantial,
sustainable and profitable growth of the Company.
David's significant operational and business
experience at Pace, where he successfully delivered the
foundation to grow that company's output from 3 million
units per year to more than 20 million units per year and
improve its market share from number 8 to number 1 in the
world, is precisely the experience and know how that will
serve Volex well in this next phase."
As well as his time at Pace, David brings over 20 years
of experience in senior executive and operational roles from
startups and turnarounds to leading global manufacturers and
service providers in the mobility, semiconductor and consumer
electronics space, including senior roles at Digital
Equipment Corporation, Motorola and Royal Philips
Electronics. David is a Graduate of the Royal Society of
Chemistry (hons) and holds an MBA from Heriot Watt
University.
The Company also announces today the retirement from
the Board of Directors of Mr. Paul Mountford, effective
immediately. Paul joined the board of Volex plc in January
2011. Subsequent to his appointment, Paul was promoted to the
role of SVP Global Enterprise Markets at Cisco Systems, Inc.
Due to the demanding time commitments of this new role, Paul
has informed the board that he would be unable to devote
adequate time to his role at Volex and has therefore
submitted his resignation. Chairman Mike McTighe
commented, "We are sad to see Paul leave but understand
the demanding requirements of his role at Cisco. We will miss
the insights that he provided and thank him for the
contributions he made during his time with the
Company."
There are no further details to be disclosed by David
McKinney in relation to paragraph 9.6.13 of the Financial
Services Authority Listing Rules.
- END -
distributed by
|
|
Recommend :
