21st Century names new Chief Executive and Finance Director

11th Oct 2013 15:12

21st Century Technology, which supplies on-board CCTV systems to Arriva and FirstGroup buses, has hired Russ Singleton as its new Chief Executive Officer and Glenn Robinson as Group Finance Director.Singleton's arrival follows Wilson Jennings´ decision last month to quit as Chief Executive of the AIM-listed company. Jennings, who has been with the company for 14 years, will step down from the board with immediate effect but will stay with the group for a handover period of up to three months.Mark Elliott, the former interim finance director, stepped up to the Executive Chairman role last month following the departure of the former Chairman Jan Holmstrom. Elliott will revert to Non-Executive Chairman once the group's business and overall strategy have been reviewed.Singleton and Robinson have been granted 3.8m options each with an exercise price of 6.5p. They will become exercisable after three years. The boardroom shake up comes after the company issued a profits warning in August which sent the shares tumbling.Shares in 21st Century Technology were up 8.9% at 6.13p at 15:32 on Friday. TB