Smart Metering Systems plc (AIM: "SMS", the "Group"), the fully integrated energy infrastructure company owning and managing meter assets, energy data, grid-scale batteries and other carbon reduction ("CaRe") assets, announces that Alan Foy, CEO, has indicated to the Board that he will step down as CEO and as an executive director of SMS on 1 March 2022.
The Board is pleased to announce that Tim Mortlock, who has been with the Group for over 20 years and has held the role of COO since September 2019, will be appointed CEO from 1 March 2022.
"On behalf of the Board I would like to express our sadness at Alan leaving SMS and thank him for his tireless work over two decades. Alan has very much driven SMS forward, particularly over the last decade and following the Group's listing on AIM, a period which has seen consistent and sustained growth as well as diversification into new asset classes. The resilience of the business which Alan has played a key role in building has been particularly demonstrated over the last 2 years in a time of unprecedented volatility in our markets. The Board wish Alan well for the future.
Tim has been an integral part of our senior management team and worked side by side with Alan for a number of years. The Board is confident that he is the right individual to succeed Alan and to continue to drive our business forward for our customers, shareholders and employees. Tim will continue to be supported by the existing executive leadership team and senior management."Chairman
For further information:
Smart Metering Systems plc
0141 249 3850
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Investor Relations
Cenkos Securities plc (Joint Broker and Nomad)
0131 220 6939 / 020 7397 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker)
020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker)
020 7653 4000
Matthew Coakes / Evgeni Jordanov / Jack Wood
Tim Linacre / Guy Scarborough / Sarah Hourahane
07917 178 920
Notes to Editors
Smart Metering Systems plc (www.sms-plc.com) is the fully integrated energy infrastructure company owning and managing meter assets, energy data, grid-scale batteries and other carbon reduction (CaRe) assets. The Group manages and optimises these assets through its in-house technology and data analytical platform "METIS".
Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.
SMS is leading the low carbon, smart energy revolution in the UK and is committed to reducing its own carbon emissions to net zero by 2030. SMS has been recognised with the London Stock Exchange's Green Economy Mark every year since it was introduced in 2019.
SMS plc is headquartered in Glasgow with a national presence across twelve UK locations.
SMS's shares are listed on AIM.