Cambridge Display Technology (CDT), the world's leading supplier of light emitting polymer (LEP) technology, announced that David Fyfe has been named the company's new chief executive officer responsible for driving CDT's commercial effort in the U.S. and globally.

A 30-year veteran of the chemical and engineering industries in the U.S., U.K. and Canada, Fyfe has extensive expertise in negotiating joint ventures, acquisitions and partnerships. He also brings strong experience in driving commercial business, which will be a key part of CDT's new business model.

Fyfe joins CDT after spending three years as CEO of Harris Specialty Chemicals headquartered in Jacksonville, Fla. This $250 million turnover company had 900 employees, seven manufacturing plants in the U.S., and 11 locations in Europe and Asia. At HSC, Fyfe led a very successful turnaround and subsequent sale of the company to SKW, part of Germany's Viag group, on behalf of Kelso & Company, one of the principal investors in CDT.

'I have been drawn back to the U.K. by the lure of a truly innovative British technology which I believe can dominate the display market. The existing partnerships with major global players such as Seiko-Epson and Phillips, as well as with other industry leaders, are significant endorsements of the prospects of the technology and the technical capabilities of CDT,' said Fyfe, a graduate of Cambridge University.

'I am delighted to be joining the CDT team, to be working with shareholders who bring long-term commitment to the venture, and to be part of a company that is shaping the future of such an important global market - the display industry.'

Previous positions include senior executive roles in several Imperial Chemical Industries companies worldwide and technology led start-ups. In addition, he has chaired the U.K. Chemical Industries Association Business and Trade Board and advised the Department of Trade & Industry's deregulation initiatives for the chemical and pharmaceutical industries.

Fyfe will initially focus on creating an organisation to support CDT's new business model, which moves away from pure licensing of technology and focuses on multiple, sustainable revenue sources. As part of this commercialisation drive, he will build up the company's commercial staff in the U.S. and Asia, home to many of the world's display manufacturers. He is also expected to take over a number of key strategic relationships that until this time are managed by Kelso & Company and Hillman Capital, the other major CDT shareholder.

At CDT, Fyfe joins Daniel McCaughan, president and chief operating officer, Jeremy Burroughes, technical director, and Richard Friend, chief scientist. In the past 12 months, CDT hired McCaughan, former chief scientist at Nortel Technology, as president and COO to develop the business.

'CDT has successfully graduated from the initial research and development phase and is now focussing on rapidly building a strong commercial capacity and expanding our revenue streams,' said McCaughan. 'David's wide-ranging commercial and strategic planning experience will compliment CDT's existing strengths. He will be a key member of the CDT team and we are all delighted by his appointment.'