Ricardo plc directorate change

Ricardo plc directorate change
21 September 2009

After six years as Chairman of Ricardo plc, Marcus Beresford has decided to retire from the board following the company AGM meeting in November. The Board has unanimously agreed that Michael Harper should be appointed Chairman from that meeting and David Hall will take over his responsibility as Chairman of the Remuneration Committee and as Senior Independent Director.

During his successful tenure Marcus Beresford has overseen the global development of the company, moving into multiple regions of Asia and establishing a firm presence in Germany. At the same time, the business has addressed some of the world’s most pressing issues including CO2 reduction from the automotive industry and has diversified beyond traditional sectors into the defence and clean tech sectors.

Michael Harper provides strong continuity and established business leadership of publicly listed companies having served as a Ricardo plc board member for six years, including fulfilling the role of Senior Independent Director and Chairman of the Remuneration Committee. A former Chief Executive of Kidde plc, he is currently Chairman of BBA Aviation plc, Chairman of the Vitec Group plc and a non-executive director of Catlin plc.

David Hall will assume the role of Chairman of the Remuneration Committee and Senior Independent Director. Formerly with Boston Consulting Group serving as Chairman of BCG’s ten global practice groups, David has served on the Ricardo plc board for 3 years and holds external positions of Chairman of the Financial Services Compensation Scheme and a consultant to the Board of Hoare & Co., a private bank.

Marcus Beresford said “It has been both a pleasure and a privilege to chair this exciting and technically stimulating business. After six thoroughly enjoyable years I decided it was the right time to hand over the reins. The Board unanimously agreed that Michael should be appointed as the next Chairman of Ricardo plc. I would like to thank the board, Ricardo team and shareholders for their unstinting support during my tenure and I wish them all the very best of success for the future.”

Dave Shemmans, CEO said “Marcus has guided the business through a pivotal time of Ricardo’s history, as the company expanded globally, by product and now by sector. His support of the diversification strategy, financial insight and governance of the business has helped to position Ricardo well in the current global economic turbulence. Marcus has strongly supported me throughout his tenure and I offer my personal thanks for his guidance in many aspects and wish him a very long and happy retirement. I look forward to the next chapter for Ricardo and working closely with Michael.”

Michael Harper said “The Board thanks Marcus for an outstanding contribution to the development of Ricardo and wishes him well for his retirement.  I look forward to taking up the reins and working with Dave Shemmans and his team on the next phase of the Ricardo story as we diversify into new sectors exploiting the technical and innovative talent of the Group. I look forward to the opportunities to exploit the recovery when it comes.” 

Ends

 
Further enquiries:

Ricardo plc  
Dave Shemmans, Chief Executive 
Paula Bell, Group Finance Director  
Tel:  01273 455611
Website: www.ricardo.com
 
Kreab Gavin Anderson 
Fergus Wylie   
Robert Speed   
Michael Turner  
Tel:  020 7074 1800