CORDEL GROUP PLC — Board/Management Information 2020

Oct 12, 2020

National Storage Mechanism | Additional information

RNS Number : 7067B

Maestrano Group PLC

12 October 2020

12 October 2020

Maestrano Group PLC ("Maestrano" or the "Company")

Maestrano appoints new Chief Executive Officer

Maestrano Group PLC (AIM: MNO), the Artificial Intelligence platform for transport corridor analytics, announces the appointment of Mr Nicholas Smith as CEO, with effect from 11 January 2021.

Mr Smith was previously appointed as a Director of the Company and Vice President Global Sales on 6 November, 2019. Following an extended handover period, Mr Andrew Pearson will step down as CEO and a director upon Mr Smith taking up his new appointment.

Ian Buddery, Chairman of the Board, said: 

"Andrew has done a superb job as CEO, with flawless execution of a complex merger and establishing processes and practices that will serve the Company for years to come.  The Board recently completed a long term business plan and agreed that our product leadership warranted increasing focus on complex Machine Learning solutions in the transport sector, hence this decision.  Nick is planning to relocate to the UK in January to focus on growing our Northern hemisphere customer and partner base."

Andrew Pearson, CEO of Maestrano, commented:

"I have been honoured to lead the Company through its merger with Airsight and the subsequent evolution to new markets and products.  We have formed the view that these new markets require a CEO with specific expertise in rail and road digital analysis and, as the former CEO of Airsight, Mr Smith is ideally qualified and experienced.  The move has been timed for early next year, to allow for a careful and thorough transition."

Nick Smith, Vice President Sales for Maestrano, said, "I am excited by our customers' response to our products and the opportunities now ahead of us.  Since co-founding Airsight in 2012, we have been leading the digitalisation of surveying and asset maintenance techniques in Australia, now extending to global markets.  I would like to recognise and thank Andrew for his contribution since the merger and I look forward to leading the Company through the next growth phase."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Maestrano Group plc

Ian Buddery, Chairman                                                               c/o Arden Partners

Grant Thornton (Nominated Adviser)

Jamie Barklem / Niall McDonald                                             +44 (0)20 7383 5100

Arden Partners (Broker)

Ruari McGirr / Ciaran Walsh                                                    +44 (0)20 7614 5900

About Maestrano

Maestrano offers a patented cloud-based platform for master data management and business analytics, together with specialist hardware and software for capturing, analysing and reporting on large datasets within the transport sector, employing sophisticated artificial intelligence algorithms.

Further information on the Company is available at: www.maestrano.com

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