| Corac appoints full-time finance director |
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| Wednesday, 26 March 2008 | |
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AIM-listed Corac Group plc has appointed a new full-time finance director and company secretary with immediate effect.
The group said that Philip Newell BSc, FCA, 49, has considerable experience with small, high technology companies including that of finance director of AIM-listed Hydrodec Group Plc. He has held senior financial roles at Cable and Wireless plc and was group financial controller of UK and US listed LEP Group plc. Newell qualified as a chartered accountant with Touche Ross & Co in 1982 and has also worked for Pricewaterhouse. Professor Gerry Musgrave, executive chairman of Corac Group (LSE:CRA), said that Newell’s full-time appointment would strengthen the firm’s management team in line with its forward planning. Tom Ivings has stepped down from his position as part-time finance director with immediate effect although he is continuing to support Corac during a two month handover period. Corac is an intellectual property, engineering and licensing company specialising in innovative high speed compressor technology. It has developed a downhole gas compressor for the downhole gas extraction industry which is supported by partners via a "joint industry programme" and also industrial compressors for the efficient delivery of compressed air. Related links |
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