ITM Power announces raft of new senior hires

Energy storage and clean fuel technology company ITM Power announced a number of senior appointments on Monday, as part of its programme to “maintain and strengthen” its “market leadership position” in polymer electrolyte membrane (PEM) electrolysis equipment manufacture.

The AIM-traded firm had said in an update in June that the recruitment process to build a management team that was appropriate for the “significant growth” of the business was continuing.

On Monday, it said Helen Baker had been appointed as company secretary, being an experienced Chartered Secretary and Chartered Governance professional with a background in the secretariats of large listed international groups, most recently with Coca-Cola Europacific Partners.

“In the course of her career, she has been involved in all aspects of company secretarial work including supporting company boards and their committees, providing governance advice, ensuring listed company compliance, global entity management, production of the annual report and share plans administration,” the board said in its statement.

Martin Clay, meanwhile, had joined ITM Power in the newly-created role of operations director, having previously been managing director at Kostal UK, which is a key supplier of electro-mechanical switch gear for the automotive industry.

“[Clay] has been responsible for the business's rapid and significant growth,” the directors said.

“Prior to his MD role, Martin was the quality executive manager for 13 years, and production quality manager for two years, at Kostal.”

Thirdly, ITM Power said it had appointed Neil Dwane as capital markets adviser, having previously been the global strategist for AllianzGI for five years, responsible for that firm’s house view, as well as the biannual investment forums and the development of investment thought leadership content.

From 2002 to 2016, Dwane was the chief information officer for the European equity business, based in Frankfurt, overseeing teams in London, Paris and Frankfurt.

Justin Scarborough had joined the investor relations team as investor relations and financial analyst.

“Justin joins us from AirX, where he was head of strategy and investor relations,” the board said.

“He has significant experience in critical analytical work streams around strategy, budgeting, research, fundraising as well as expertise in shareholder relations.”

Barry Cunliffe, meanwhile, had rejoined the company as project risk manager, having previously been ITM’s finance director from 2009 to 2014, completing two equity funding rounds in that time.

“Since leaving the company, Barry has been the group finance director for a group of manufacturing and engineering companies in Sheffield.”

The penultimate appointment was Sharon Poulter as head of marketing, who was joining the company after working in a number of “highly-competitive” fast-moving consumer goods (FMCG) markets, delivering innovative marketing strategies and approaches.

Its board said Poulter was “attracted to ITM Power” by the opportunity to work within a business that had a “clear approach” to sustainability, and whose products contributed to climate change mitigation.

Finally, Dr Rosemary Gault was joining as head of grant partnership funding, bringing “significant experience” from her time working with the Advanced Manufacturing Research Centre with Boeing and the European Commission, where she held responsibilities for research, grant writing, bid development and analysis.

Dr Gault has a BSc in astrophysics and a PhD in rapid prototyping.

“We are very pleased to welcome all of our new team members,” said chief executive officer Graham Cooley.

“We have been delighted by the quality of the applicants wishing to work with us and this high quality is reflected in the outstanding individuals whose appointments we have announced today.”

At 1143 BST, shares in ITM Power were up 3.58% at 522.04p.