NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
31 May 2024
Pinewood Technologies Group PLC
("Pinewood" or the "Company")
Directorate Change Update
Further to the announcement made on 30 June 2023 regarding the position of Non-Executive Chair of the Company, the Nomination Committee has concluded a search process to identify a replacement. During this period, Pendragon PLC reached an agreement with Lithia Motors Inc to dispose of its UK Motor and Leasing operations and reposition the Company as a standalone Software-as-a-Service group.
Against this backdrop, the Nomination Committee considered many strong external candidates who have been excited about the Company's prospects, and also included Ian Filby in the process after he expressed a willingness to be in contention for the position.
The Committee has now concluded this process and is pleased to report that Ian Filby is to remain as Non-Executive Chairman. The Committee is confident that his stewardship provides Pinewood with continuity and stability following a period of considerable change, and this will be important as the Company executes its strategy at pace to capitalise on the significant opportunities in its end markets.
Enquiries:
| Jefferies International Limited (Joint Corporate Broker) | +44 (0) 20 7029 8000 |
| Philip Noblet | |
| Thomas Bective | |
| Jordan Cameron | |
| | |
| Berenberg (Joint Corporate Broker) | + 44 (0) 20 3207 7800 |
| Ben Wright | |
| | |
| Headland Consultancy (PR & Communications) | +44 (0) 20 3805 4822 |
| Henry Wallers | |
| Jack Gault | |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.