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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vectrix S | LSE:VRX | London | Ordinary Share | COM SHS USD0.10 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9024S Vectrix Corporation 23 April 2008 Date: 23 April 2008 On behalf of: Vectrix Corporation ("Vectrix" or "the Company") For immediate release Directorate Change Middletown, R.I. - Vectrix Corporation (AIM: VRX) (www.vectrix.com), maker of the world's first high performance, two-wheel zero emission vehicle (ZEV), announces that Andrew MacGowan, its Chairman, President and Chief Executive Officer has informed the Board that he will not offer himself for re-election as a Director of the Company at the forthcoming Annual General Meeting, to be held on 1 May 2008, and will stand down from these roles at the conclusion of this meeting. Andrew MacGowan will be succeeded as Chief Executive Officer by Michael J. Boyle, a seasoned senior executive with extensive public company and organisational and strategic development experience. Mr Boyle, aged 62, was most recently, and until January 2008, President and CEO of Tellular Corporation, a NASDAQ listed provider of cellular wireless products. During his three years with Tellular he was responsible for leading the restructuring and transformation of the business, which resulted in sustainable profitability after a 20 year history of losses. Mr Boyle has also been President and Chief Executive of Prizm Technology (sold to NASDAQ listed Coinstar Corporation in June 2003), NASDAQ listed Elcotel, Inc. (sold to Gores Technology Group in December 2001) and Phoenix Wireless Group (sold to Lucent Technology Corporation in June 1999). Mr Boyle holds a Masters degree in Management from Northwestern University Kellogg School of Management. Mr Boyle will take up his role immediately following the Annual General Meeting. In addition, Non-Executive Director Bob Bond has been appointed as Interim Chairman effective as of the conclusion of the Annual General Meeting. Commenting on the announcement, Robin Aisher, Chairman of the Remuneration Committee said: "Andy MacGowan founded the Company 12 years ago and has been the driving force in bringing Vectrix from a research and development concept to a production reality. Over this time, his vision and drive have been immeasurable but, as the Company moves into a new phase, Andy feels it is the right time for him to step aside. We would like to thank Andy for his leadership and hard work over the last 12 years and wish him every success for the future." Robin Aisher added: "We would also like to welcome Michael Boyle to the Company. He has had an impressive career to date and we are sure he will play an important role in the next phase of Vectrix's development." - Ends - Enquiries to: VECTRIX Corporation www.vectrix.com Chris Moe, Chief Financial Officer (401) 848-9993 Redleaf Communications vectrix@redleafpr.com Emma Kane / Paul Dulieu +44 (0)20 7822 0200 HSBC Nick Donald / Nic Hellyer +44 (0)20 7991 8888 Notes to Editors About Vectrix - Vectrix listed on AIM in May 2007 and is the developer of the world's first high performance, zero emission, electric motorcycle which is at least 10 times more powerful than existing electric power two wheel vehicles. - Vectrix is dedicated to developing and commercializing zero emission vehicle platform technologies focused on two-wheel applications. Longer term, Vectrix plans to develop environmentally sensitive technologies for other segments within the transportation industry. - Vectrix is headquartered in Middletown, Rhode Island, USA, has a modern vehicle assembly facility in Wroclaw, Poland and an R&D center in New Bedford, Massachusetts. - Vectrix was awarded the 2006 Frost & Sullivan Award for Technology Innovation and Leadership in Alternative Vehicle Technologies. - Transportation is the largest single source of air pollution in the world. A typical motorcycle/scooter produces significantly more CO2 and pollutants than a large diesel truck, and far more than a modern low emission automobile. The Vectrix bike utilizes innovative zero-emission technology, offering customers a clean, affordable, and much needed alternative. This information is provided by RNS The company news service from the London Stock Exchange END BOAZGGZDFZMGRZZ
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