QPP Quindell

TIDMQPP

RNS Number : 1853W

Quindell PLC

17 August 2015

17 August 2015

Quindell Plc

("Quindell" or the "Company" or the "Group")

Board appointment/Change of Nominated Adviser

Appointment of experienced technology executive as new Group Chief Executive Officer

Appointment of Nominated Adviser and Broker

The Board of Quindell (AIM: QPP.L) is delighted to announce the appointment of its new Group Chief Executive, Indro Mukerjee, who will join the Board on 7 September 2015. Indro brings strong experience from Board level leadership positions in multinational, start-up and private equity backed technology and industrial companies.

Commenting on this appointment, Richard Rose, Non-executive Chairman said:

"We are delighted to have recruited Indro, who was the outstanding candidate for the role in terms of his experience, his personality and his leadership skills. He has a proven track record of creating value through developing and implementing strategies based on matching compelling value propositions to growing markets. His experience includes roles in complex environments, often involving fast moving technologies. We are excited to welcome him to the Company."

Indro Mukerjee is non-executive Chairman of FlexEnable Limited ("FlexEnable"), a leader in flexible electronics technologies. FlexEnable was launched following the strategic transformation of Plastic Logic which Indro led in the role of CEO. He was previously Chairman and CEO of C-MAC MicroTechnology, a private equity backed LBO from which three market-leading companies were created to serve vertical markets (Automotive, Aerospace/Defence, Communications). These companies were developed under Indro's leadership and subsequently sold.

Indro previously worked for Philips Semiconductors BV in several executive board positions, including Executive Vice President - Global Marketing & Sales and Chief Marketing Officer and latterly global CEO of the strategic Automotive and RF Identification Business Units.

His earlier career included his role as Commercial Director at VideoLogic Limited, as part of the leadership team that took the company through an IPO, as well as senior management positions within Hitachi's European semiconductor division.

Indro has a passion for the development of skills to enhance the competiveness of the UK in technology, is the founding Chairman of the UK Electronics Skills Foundation and sits on the Board of the Sector Skills Council for UK science, engineering & manufacturing technologies, where he chairs the investment committee. Indro has a degree in engineering science from Oxford University, is a graduate of the Wharton Advanced Management Program and speaks several European languages.

Indro Mukerjee said:

"I'm of course aware of the challenges the Company has been facing and respect the Chairman, Board and rest of the team for the way that they have been identifying the issues of the past, and dealing with them resolutely and rapidly. At the heart of the Company are some excellent people and great technologies. My immediate priority will be to identify how to drive the development of both to serve our customers and create value for our shareholders".

Appointment of Nominated Adviser and Broker

Quindell is pleased to announce the appointment of Peel Hunt LLP as the Company's Nominated Adviser and Broker with immediate effect.

Additional information:

Indro Mario Mukerjee is aged 54, and British. He is currently Non-executive Chairman of FlexEnable Limited, a director of the Science, Engineering & Manufacturing Technologies Alliance and Chairman of the UK Electronics Skills Foundation. His previous directorships over the last 5 years are: Plastic Logic Holding plc, FlexEnable Limited, C-Mac UK Holding Limited, C-Mac Microcircuits UK Opco Limited, C-Mac Microcircuits North America Limited, C-Mac Microcircuits UK Holding Limited, C-Mac Automotive Limited, Api Microelectronics Limited, Rf2m Limited

There is no further information required to be disclosed pursuant to Schedule 2 (g) of the AIM Rules for Companies.

For further information:

 
 Quindell Plc                                            Tel: 01489 864 200 
 Richard Rose, Non-executive Chairman 
 Stephen Joseph, Head of Investor Relations 
 
 Tulchan Communications                            Tel: 020 7353 4200 
 Tom Buchanan 
 Victoria Huxster 
 
   Peel Hunt LLP, Nominated Adviser and             Tel: 020 7418 8900 
   Broker 
 Steven Fine 
  Dan Webster 
 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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