APR Energy announces changes to its Board and Management Team

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Aug 27, 2014, 02:30 ET

JACKSONVILLE, Fla., Aug. 27, 2014 /PRNewswire/ -- APR Energy, a global leader in fast-track power solutions, today announces a number of changes to its Board leadership and management team.

Michael Fairey, Non-Executive Chairman of APR Energy plc (LSE: APR), has announced that he is stepping down as Chairman, with immediate effect. Following consultation with a number of the company's major shareholders, the Board of APR Energy has unanimously selected John Campion, who will transition from Chief Executive Officer, with immediate effect, to take the position of Executive Chairman. Laurence Anderson, who most recently served as President of APR Energy, will assume the role of Chief Executive Officer.

Baroness Denise Kingsmill, Senior Independent Non-executive Director, said: "Mr. Fairey has provided tremendous leadership during his three years as Chairman, helping the Company grow and mature as a publicly listed company. His experience, judgment and guidance have been an invaluable asset to the Board and the Group. We wish Mr. Fairey well with his future endeavours and sincerely thank him for the outstanding contribution he has made."

John Campion, Executive Chairman added: "Mr. Fairey was the perfect senior statesman for the Company and was instrumental in its growth and success to date. I consider Mike a friend and trusted colleague and I would like to thank him for his guidance and support over the years. Mike was always available for consultation when needed and I am grateful for the wisdom he provided."

Baroness Kingsmill next said: "The Board is pleased to have selected John Campion as our new Chairman. Mr. Campion has done an exceptional job as Chief Executive Officer of APR Energy, providing vision and leadership in guiding the Group to triple-digit growth during its three years as a PLC. His deep strategic and operational understanding of the business, as well as his experience as a Director on the Board, will serve him well as our Chairman.

"We are pleased to announce Laurence Anderson as the Group's new Chief Executive Officer, and his selection has unanimous support from the Board. Mr. Anderson is well-equipped for the role, having co-founded the business and having served as both President and Chief Operating Officer for the Company. He has been intimately involved in every aspect of the business and its day-to-day operations since its founding and has been an integral part of its success and growth."

Mr. Campion and Mr. Anderson co-founded the business in 2004, since which time Mr. Campion served as Chief Executive Officer. Mr. Anderson served as President and Chief Operating Officer from 2004 through May of this year, when his position changed to President. As Executive Chairman, Mr. Campion will lead the Board in providing guidance and oversight to the business, as well as governance of the Board. Also, Mr. Campion will provide long-term vision and strategy to the Group's management team as well as spend time with the Company's customers.

Additionally, the Board announces today that Lee Munro has been named Chief Financial Officer. Mr. Munro has been with the Company since its early stages, serving as Senior Vice President, and has been a key part of its development. Mr. Munro has considerable experience with the installation and operation of APR Energy's power plants and has demonstrated a core competence managing these investments for the group. He has a very strong corporate finance and audit background from his 11 years at GE Capital, where he held a number of senior financial and leadership positions most recently serving as CEO of GE European Operations Services.

Laurence Anderson, Chief Executive Officer, said: "Lee brings with him a strong financial background and a deep understanding of the business. He knows what is required to drive our continued success, will bring stability to the position and will help drive further process and systems improvements within finance and across departments. He made a great impact in the short period of time while serving as Interim CFO, securing our new $770m facility and streamlining the operations of the finance function. Lee's selection was unanimous among the Board members and we are extremely pleased for him to take this role."

John Campion, Executive Chairman of APR Energy added: "The Board believes that the management changes announced today, together with the naming of Brian Rich as Chief Operating Officer in May, have positioned the Group with a highly experienced management team with the leadership ability to drive our strong, profitable, growth path and to take us to the next level as a global, maturing business."

There are no further details required to be disclosed by Rule 9.6.13 of the UK Listing Rules.

In light of Mr. Fairey's departure from the Board, the Group will be restructuring their Committees to reflect his departure.

About APR

APR Energy is the world's leading fast-track mobile turbine power business. We provide large-scale, fast-track power, providing customers with rapid access to reliable electricity when and where they need it. APR combines state-of-the-art, fuel-efficient technology with industry-leading expertise to provide turnkey power plants that are rapidly deployed, customisable and scalable. Serving both utility and industrial segments, APR Energy provides power generation solutions to customers and communities around the world, with an emphasis on Africa, the Americas, Asia-Pacific and the Middle East. For more information, visit the Company's website at www.aprenergy.com.

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