Dave Pickett to Take On Key Ricardo Procurement Role

    VAN BUREN TWP., Mich., Oct. 15 /PRNewswire/ -- Ricardo announced today
 that it has appointed Dave Pickett to the newly created position of global
 procurement director with immediate effect. With this key appointment the
 company aims to achieve new levels of efficiency and profitability from its
 worldwide purchasing operations.
     Since joining Ricardo in 2000, Pickett has held a wide range of senior
 managerial roles in operations, program delivery and testing. His most
 recent assignment has been as interim managing director of the company's
 German subsidiary, Ricardo Deutschland GmbH, a role in which he made a
 significant and positive impact in developing the business and improving
 profitability. Pickett has both a first and master's degree in electronics,
 respectively awarded by City University, London, and the University of
 Manchester Institute of Science and Technology, England. The early part of
 his industrial career was spent with a number of companies including ten
 years spent with Silvertech, a specialist supplier of safety shutdown
 systems to the oil and gas industry, where his roles included operational
 management, project delivery, and procurement. His final position at
 Silvertech prior to joining Ricardo was as projects director.
     The new role of global procurement director is intended to enable
 Ricardo to improve the effectiveness and efficiency of its purchasing
 operations through the implementation of measures such as rationalized
 purchasing, strategic supplier agreements, improved license deals, and
 supply chain management and rationalization. In this key new position with
 the company, Pickett will report directly to Ricardo CEO, Dave Shemmans.
     Commenting on the new appointment, Dave Shemmans said: "Procurement is
 an important aspect of our business worldwide as we grow and develop
 Ricardo in new markets and geographical regions. I believe that Dave
 Pickett will bring a new impetus to our purchasing operations, realizing
 the many strategic opportunities available to us and in doing so,
 delivering tangible benefits to our customers and shareholders."
     With technical centers and offices throughout Europe, the U.S. and
 Asia, Ricardo is a leading independent technology provider and deep-content
 strategic management consultant to the world's transportation sector
 industries. The company's engineering expertise ranges from vehicle systems
 integration, controls, electronics and software development, to the latest
 driveline and transmission systems and gasoline, diesel, hybrid and fuel
 cell powertrain technologies. Its customers include the world's major
 automakers, tier 1 suppliers and leading motorsport teams. The headquarters
 of Ricardo's U.S. operations, Ricardo, Inc., is located at Van Buren
 Township, Michigan. The company's skill base represents the
 state-of-the-art in low emissions and fuel-efficient powertrain technology,
 and can be best summarized: "Ricardo is Fuel Economy." Ricardo plc posted
 sales of $344 million in financial year 2007 and is a constituent of the
 FTSE techMark 100 index -- a group of innovative technology companies
 listed on the London Stock Exchange. For more information visit
 www.ricardo.com.
 
 

SOURCE Ricardo Inc.

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