DG Innovate appoints Peter Tierney as new Chief Executive Officer

Boardroom

DG Innovate plc (LON:DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, has announced certain changes to the Company’s Board of Directors.

As announced on 16 May 2022, Peter Tierney has joined the Company today as its new Chief Executive Officer.

Peter is an experienced Chief Executive with over 30 years’ experience in operating and developing growth orientated service and manufacturing businesses.  He was until recently Chairman and Chief Executive officer of Lewmar Marine Limited, a private equity backed international marine manufacturing and distribution business. Peter was initially appointed to lead the turnaround of Lewmar Marine in 2008, quickly returning the business to profit and implementing a successful growth strategy that led to sales doubling, before the business was sold to a US trade buyer in 2019, generating a significant return for its private equity backers.  Prior to joining Lewmar Marine, Peter was Chief Executive Officer of Vector Aerospace, based in Canada, an aerospace maintenance and operating business, between 2003 and 2008.  He has also held senior roles at a number of other engineering businesses in the UK and North America and has a degree in mechanical engineering, together with a master’s degree in business.

Upon Peter Tierney’s appointment, it was previously proposed that Christopher Theis, the Company’s former Chief Executive Officer, would assume the role of Chairman.  However, Mr Theis has decided not to take up this position but remains a director of the Company. The Board recognises Mr Theis’ contribution as Chief Executive Officer during his tenure which saw the acquisition of Deregallera Holdings Limited (formerly named DG Innovate Limited) and the re-admission of the Company’s shares to trading on the London Stock Exchange.

Nicholas Tulloch, Non-Executive Chairman, will no longer be leaving the Company, as proposed in the announcement on 16 May 2022, and will remain as DG Innovate’s Non-Executive Chairman.

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