– UK, Portsmouth – CT Automotive Group (LON: CTA), a leading designer, developer, and supplier of interior components to the global automotive industry, announced Board changes, effective from today:
- Simon Phillips moves from his current role as Executive Chairman to become CEO replacing Scott McKenzie who steps down from the Board to the role of COO of Sales and Product Development;
- Raymond Bench, currently Independent Director, is appointed as Non-Executive Chairman;
- Francesca Ecsery, currently an Independent Director, is appointed as Senior Independent Non-Executive Director.
In addition, Nick Timberlake is joining the Board as a Non-Executive Director and appointee of Otus Capital Management Limited, effective immediately.
“I am delighted to welcome Nick Timberlake to the Board and look forward to working with him as we implement our strategy for improved efficiency and growth. The changes to Board roles announced today ensure that we have the right people in place to execute this strategy, including the recent appointment of Anna Brown as CFO and Scott McKenzie taking up a new role focused on sales and product delivery,” said CEO, Simon Phillips.
About Nick Timberlake
Nick Timberlake is a director of India Capital Growth Fund and has over thirty years of experience in the asset management industry, including as a portfolio manager with HSBC Global Asset Management between 2005 and 2020, initially as Global Head of Emerging Markets Equities and then Head of Equities. Previously, he was a Director of F&C Emerging Markets Limited and has spent over 20 years investing in global emerging markets equities. Nick is a CFA Institute and CFA Society of the UK member.
About CT Automotive
CT Automotive is engaged in the design, development, and manufacture of bespoke automotive interior finishes (for example dashboard panels and fascia finishes) and kinematic assemblies (for example air registers, armrests, deployable cup holders,s and storage systems), as well as their associated tooling, for the world’s leading automotive original equipment suppliers and global Tier One manufacturers.
The Group is headquartered in the UK with a low-cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Turkey, Mexico, and the Czech Republic.
CT Automotive’s operating model enables it to pursue a price leadership strategy, supplying high-quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality roster of OEM end customers directly and via Tier One suppliers including Faurecia and Marelli. End customers include volume manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies electric car manufacturers, including Lucid. It has also recently started working with e.Go Mobile, a German manufacturer plans to launch a series of small electric vehicles for the budget end of the market.
The Group supplies part types to over 47 models for 19 OEMs. Since its formation, the Group has been the only significant new entrant into the market, which is characterized by high barriers to entry.
Source: https://ct-automotive.net/
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