An engineering and technology company which listed on the London Stock Exchange in April has appointed a CEO.
Bristol-based DG Innovate is a research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage.
Currently developing its products alongside a number of major manufacturers across the transportation and energy sectors, research institutions and the UK government, it has filed 18 patents worldwide.
Its main focuses are electric motors for a range of applications from boats to cars and turbines; and recyclable sodium-ion batteries.
The firm, which joined the main market of the LSE via a £32.4 million reverse takeover of Path Investments last month, has appointed Peter Tierney as CEO, effective from 1st July.
Tierney was until recently chairman and CEO of Lewmar Marine Limited, a private equity-backed international marine manufacturing and distribution business, having been appointed to lead the turnaround of the company in 2008.
Prior to joining Lewmar Marine, he was CEO of Vector Aerospace, based in Canada, and has also held senior roles at a number of other engineering businesses in the UK and North America.
Christopher Theis, DG’s current CEO, will assume the role of executive chairman for a period of four months to ensure an orderly handover of responsibilities, before he takes the role of non-executive chairman of the company from 1st November 2022.
Current non-exec chair Nicholas Tulloch will leave the company on 30th June.
“Peter brings a wealth of operational experience and sector knowledge to DG Innovate that will be invaluable as we seek to commercialise our suite of electric mobility and storage technologies,” said Theis. “We believe Peter is the right person to lead DG Innovate into the next stage of its journey and beyond, and we look forward to working with him.
“I would also like to take this opportunity to thank Nick, who will be stepping down as chairman, for his wise counsel, support and dedication over a long period as we successfully concluded our recent transaction that we believe can deliver significant value for shareholders.”