David Pummell is new CEO of Ceres

18th Aug 2011 11:18

Ceres Power has announced that it has appointed former BP executive David Pummell as its new chief executive officer (CEO). Pummell, who will take up the position on 5 September, was CEO of MAPS Technology, the maker of non-destructive testing equipment, until April of this year, developing the company into a commercially successful business. He has also held a number of senior executive roles at BP, where his achievements included directing the restructuring of the company's global refining and marketing businesses and setting up a new fuels and lubricants business in the Middle East. Brian Count, currently Executive Chairman, will become Non-Executive Chairman of the company on the same date. Count has been running the company since the abrupt departure of previous CEO, Dr. Peter Bance, in the middle of June, after the company suffered a number of technical issues in field trials of its combined heat and power (CHP) technology.The new boss, David Pummell, alluded to those problems, saying: "Ceres has faced a number of recent challenges, but I am confident that we can successfully commercialise the company's CHP product and deliver significant shareholder value." The share price was down 0.90% to 27.50p at 11:41. NR