Turbo Power Systems Inc. (TPS.TO: Quote,TPS.L), a manufacturer of electrical machines and electronic systems, on Wednesday said it has appointed Carlos Neves as Chief Executive Officer. He succeeds Peter Brown, who has resigned as CEO and a director for personal reasons, with effect from June 30.
Neves, who joined Turbo Power in September last year as Chief Financial Officer, will be replaced in that position by Charles Rendell, currently Vice-President of Finance, on July 1.
Neves has energy industry experience for over 20 years, including positions with ExxonMobil in Brazil, Argentina and USA, and more recently, within Corporate Planning for Cosan in Brazil, the company noted.
James Pessoa, Chairman of TPS, said, "Carlos has brought a strategic and analytical prospective to the future growth prospects of TPS. I am confident that he will continue to make a strong contribution and lead TPS as we continue to refocus and build the business."
The company added that neither Neves nor Rendell are proposed to be appointed to its Board.
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by RTT Staff Writer
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