REG - Ceres Power Holdings - Board change: Appointment of Stuart Paynter as CFO

Ceres Power HoldingsAnnouncement

06/09/2024 07:00

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RNS Number : 1329D  Ceres Power Holdings plc  06 September 2024

CWR.L

6 September 2024

Ceres Power Holdings plc

("Ceres", the "Company")

 

Board change: Appointment of Stuart Paynter as CFO

 

Ceres Power Holdings plc (CWR.L), a leading developer of clean energy
technology, today announces the appointment of Stuart Paynter as Chief
Financial Officer (CFO) and Board member. Simultaneously, the Company
announces that Eric Lakin will step down as CFO and from the Board after
nearly three years in the role to pursue other interests. These changes will
become effective on 1 October 2024. Eric will remain with Ceres for sufficient
time to ensure a smooth transition of responsibilities.

 

Stuart has extensive financial and commercial experience across a range of
advanced technology sectors, as well as a strong capital markets, UK
governance and transformation delivery track record. He was most recently
Chief Financial Officer and Board Director of advanced therapies innovator
Oxford BioMedica plc where, in his seven-year tenure, the business grew its
revenue more than five-fold to over £100 million and completed transactions
to successfully internationalise the business in the US and Europe. Stuart
also spent eight years at FTSE 100-listed Shire Plc in various finance and
strategic roles. Stuart is a Chartered Accountant and has a degree in Physics
from Imperial College.

 

Phil Caldwell, CEO of Ceres, commented: "I would like to extend a very warm
welcome to Stuart. He is hugely experienced in growing technology businesses
through licensing and partnerships, and I know he will be a great addition to
the business. I would also like to take the opportunity to offer my sincere
thanks to Eric for his contribution and support. Eric has been a valuable
member of my Executive Team and the whole business wishes him the very best
for the future."

Stuart Paynter, commenting on his appointment, added: "I am delighted to have
the opportunity to join Ceres in its mission to enable a net zero future. I
look forward to working with Phil, the Board and the outstanding team
innovating world class clean energy technologies and delivering the ambitious
growth strategy of the company."

 

End

 

For further information visit www.ceres.tech (http://www.ceres.tech/) or
contact:

 Ceres Power Holdings plc          Tel: +44 (0)7884 654179

 Patrick Yau/Merryl Black          Email: investors@cerespower.com (mailto:investors@cerespower.com)

 FTI Consulting (Financial PR)     Tel: +44 (0)203 727 1000

 Dwight Burden/Ben Brewerton       Email: ceres_power@fticonsulting.com (mailto:Ceres_power@fticonsulting.com)

 

 

 

 

Disclosures required in respect of Listing Rule 9.6.13

In addition to his appointment to the Ceres Board, Stuart Paynter holds or has
held the following directorships or partnerships in the past five years:

Oxford BioMedica plc - appointed 29 August 2017, resigned 2 September 2024

 

 

About Ceres

Ceres is a leading developer of clean energy technology: electrolysis for the
production of green hydrogen and fuel cells for power generation. Its
asset-light licensing model has seen it establish partnerships with some of
the world's largest companies, such as Bosch, Doosan, Delta, Denso and
Weichai. Ceres' solid oxide technology supports greater electrification of our
energy systems and produces green hydrogen at high-efficiencies as a route to
decarbonise emissions-intensive industries such as steelmaking, ammonia and
future fuels. Ceres is listed on the London Stock Exchange ("LSE") (LSE: CWR)
and is classified by the LSE Green Economy Mark, which recognises listed
companies that derive more than 50% of their activity from the green economy.
Read more on our website www.ceres.tech (http://www.ceres.tech) or follow us
on LinkedIn (https://www.linkedin.com/company/ceres-power/) .

 

 

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