AVPE Announces New Management Structure

The shareholders of AVPE have decided to invest in a long-term strategy to grow and strengthen its position in the Airbus supply chain. Over the next 12 months, AVPE is planning to complete an acquisition of a complementary non- Airbus machining business in the UK before transitioning from a private to a publicly owned business.

Mark Summers is unable to give the long-term commitment necessary for AVPE to successfully implement this strategic investment and therefore with regret the Board have accepted Mark’s resignation as Managing Director. Mark is supporting AVPE acquisition strategy over the next 9 months and will complete a transition period in mid-September 2020.

As part of this change process we are strengthening the senior Management Team with the following appointments:

Duncan Frame will join AVPE as CEO early in 2020. Duncan has had a long and very successful career within the GE Group, later in their Oil & Gas business and has considerable experience in multi-site operations within an international business environment. Duncan lives near Bristol and is married with 1 child.

Tim Preston will join AVPE as CFO early in 2020. Tim is a fully qualified accountant trained by the big 4 (EY) before enjoying a very successful career with several Listed Engineering Groups. Tim lives near Salisbury and is married with 4 children.

Commenting on the recent appointments Chris Steel Deputy Chairman said; “The Board are confident Duncan and Tim will build on the success that Mark has achieved at AVPE over the past 5 years as Managing Director. We would like to thank Mark for all he has achieved at AVPE and wish him and his family every success in the future.”

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