| Fri 4 Dec 2009, 12:41 | | CNL - Control Instruments Group Limited - Change In Directorate |
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CNL
CNL
CNL - Control Instruments Group Limited - Change In Directorate
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1964/003987/06)
Share code: CNL
ISIN code: ZAE000001665
("Control Instruments" or "the Group")
CHANGE IN DIRECTORATE
The board of directors of Control Instruments has much pleasure in announcing
the appointments of Mr. Ian Scott-Gall and Prof. Alexandra Watson as independent
non-executive directors and Dr. Nigel Preston as an executive director to the
Group`s board of directors, with immediate effect.
Mr. Ian Scott-Gall, BSc, FCA
Ian Scott-Gall has had over 22 years experience as a CEO and a Finance Director
of public companies listed on the London Stock Exchange.
Ian is based in the UK where he is a non-executive director of Framlington
Innovative Growth Trust plc. Before his retirement in October 2008, Ian was CEO
of Vislink plc a leading supplier of digital microwave radio and satellite
transmission products. Prior to that he was CEO of Blick plc, an electronics,
security, CATV distribution and access control group.
Ian`s wealth of international exposure and experience will add value to Control
Instruments at a time when the Group`s strategy is to internationalise its
business and capitalise on the international opportunities presented by the
development of its own IP products.
Prof. Alexandra Watson, B.Com (Hons) UCT, CA(SA)
Alex is an independent director of Coronation Fund Managers Limited and is
chairman of its Audit Committee. She is a Professor in the Accounting Department
at the University of Cape Town. In addition she is Chairman of the Accounting
Practice Committee; a member of the GAAP Monitoring Panel; and a member of the
Education Advisory Group to the International Accounting Standards Council
Foundation.
Control Instruments insists on corporate governance and integrity and Alex`s
technical skills and experience in and knowledge of accounting best practice
will be of significant benefit, particularly in the light of the requirements of
King III. Alex will become the Chairman of the Group`s Audit Committee.
Dr. Nigel Preston PhD BEng (Hons) CEng MIET
Nigel is currently Chief Operating Officer of the Group`s international
operations and is based at the Group subsidiary Pi Shurlok`s headquarters in
Cambridge in the UK. He has been with Pi Shurlok (formerly Pi Technology) since
2005 as Director of Engineering and Head of Product Operations.
Nigel has a wide range of experience in the automotive electronics industry
gained from over 25 years in the OEM and supply sides of the industry. He has
held positions with Motorola`s Automotive Control and Electronics Systems
business; Jaguar Cars; and BL Technology.
Nigel`s expertise in engineering and product development is particularly
valuable as Pi Shurlok establishes itself as a leading provider of control
systems engineering and product technology that enables companies to rapidly
move from concept to production when introducing electronics to their products
and systems.
General
These appointments, together with the appointments of Sean Rogers, COO of the
South African Operations, and Eckert Giliomee, Group Financial Director, earlier
this year have considerably strengthened the Board.
Group CEO, Richard Friedman, has been based in the UK for the past two years. As
a result of the hard work and constant focus on the development of products
containing the Group`s own IP during this time, the offshore business is
building momentum and the prospects are encouraging. The appointments of Ian
Scott-Gall and Nigel Preston, both based offshore, will ensure a balance of
local and international directors on the Board. The directors believe that this
is essential to the Group`s aim to position its centres of product development
close to its international customers.
The Group operates through two subsidiaries; Pi Shurlok, which specialises in
vehicle electronics from concept to manufacture and has facilities in Cambridge
(UK), Detroit (USA) and Pietermaritzburg (SA); and CI Automotive, which
distributes quality branded products to the automotive aftermarket in sub-
Saharan Africa and is based in Johannesburg and Cape Town.
Cape Town
4 December 2009
Sponsor:
Investec Bank Limited
Date: 04/12/2009 12:41:01 Produced by the JSE SENS Department.
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