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Ultra Electronics Holdings plc
 
(“Ultra” or “the Group”)
 
ULTRA APPOINTS NEW GROUP FINANCE DIRECTOR
 
 
As previously announced in the Interim Management Statement on 16 November 2012, Paul Dean has been approached to take a Finance Director role outside of the defence and aerospace sector. Paul has agreed to become CFO of the Diamonds business of Rio Tinto plc and will leave Ultra on 31 March 2013. In accordance with paragraph 9.6.11 of the Listing Rules, Ultra is pleased to announce that Mary Waldner will succeed Paul as Group Finance Director and be appointed to the Board. The date that Mary will join Ultra is yet to be finalised, and a further announcement will be made in due course.
 
Mary is currently Director, Group Finance of QinetiQ Group plc. She was previously Group Financial Controller at 3i Group plc, following ten years at British Airways plc where she held a number of senior roles including Financial Controller (Commercial) and Manager, Corporate Planning and Reporting. After graduation Mary also worked for Vauxhall Motors Ltd and Coopers & Lybrand Management Consultancy Services. Mary graduated from Oxford University with an MA in Physics and is a member of the Chartered Institute of Management Accountants.
 
There are no disclosures required in relation to paragraph 9.6.13 of the listing rules.
 
In the interim period, the function of Group Finance Director will be undertaken by Mark Nelson.
 
Mark will not be appointed to the Board and will report directly to the Chief Executive.Mark was the Group Financial Controller until 2012, since when he has been the Finance Director for Ultra’s Sonar and Undersea Systems Division.
 
Rakesh Sharma, Chief Executive of Ultra, commented:
 
“I am very pleased that Ultra has been able to appoint Mary Waldner to succeed Paul Dean. Mary has a broad range of experience in a number of sectors and an excellent track record of achievement. We look forward to welcoming Mary into the Group. The Board would like to take the opportunity to thank Paul for his contribution as an outstanding Group Finance Director over the past four years.”
 
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