Accsys Technologies PLC – Directorate Change

Accsys Technologies PLC – Directorate Change

Accsys announces today that as part of succession planning, Paul Clegg will step down as CEO after ten years in the role.

Paul joined Accsys as CEO in 2009. Since then the Group has restructured and grown considerably and now has a solid platform as reflected by today's announcement of preliminary financial results for the year ended 31 March 2019. Both Paul and the Board feel that at this important time in the Company's evolution, as it seeks to expand, build and operate wood acetylation plants around the world, it requires a CEO with extensive manufacturing expertise.

The Board wishes to express its appreciation for the very important contribution Paul has made to the development of the business throughout his time with Accsys.  A search for a new CEO is underway. The Board is grateful that Paul has agreed to stay on as CEO and a Board member, until 31 December 2019, allowing adequate time to complete the search for his successor

Patrick Shanley, Chairman, commented "Since Paul joined the Company in 2009 he has overseen a transformation in our strategy, from one of licensing our technology to one focussed on expanding commercial and manufacturing operations in Europe, and more recently targeting growth in North America and Asia. We are grateful for the significant contribution Paul has made to the business and wish him well in his next endeavours."

Paul Clegg said, "I will always remain passionate about Accsys, its amazing products and its hardworking people, however I believe that the next phase in the Company's evolution will benefit from someone with extensive manufacturing expertise, to ensure the Company is able to fully exploit the significant expected increase in its manufacturing capacity around the world.''

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