TIDMTRI
RNS Number : 8017T
Trifast PLC
19 November 2019
Tuesday, 19 November 2019
Trifast plc
("Trifast" or "TR")
Directorate change
Chairman to retire from TR & Announcement of Chair elect
Retirement of a Director
Trifast plc (Main market LSE symbol: TRI) today announces that,
following a long and successful career with TR, Malcolm Diamond MBE
has notified the Board of his intention to retire as Non-Executive
Chairman and step down as a Director with effect from 31 March
2020.
Commenting on his plans, Chairman, Malcolm Diamond MBE said:
"Having spent over 45 years within industry, with 25 of these
within the PLC arena, I have been able to gain a broad and varied
grasp of what is demanded of team leadership as well as the
experience developed from being responsible for marketing to and
communicating with the investment community, both in the U.K. and
Overseas. This long and varied career in both private and public
company executive positions, has enabled me to offer commercial and
strategic support and mentorship to the next generation of
leadership teams.
"Having overseen the smooth CEO and CFO succession plan at
Trifast as well as the adoption of the transformational 'Project
Atlas', now halfway through its four year implementation, I feel
comfortable in retiring as Chair at the end of March 2020 knowing
that the TR Board and the business is in such good shape."
"My thanks go to all the staff in our locations, plus my fellow
Trifast executive and non-executive Board colleagues for their
unwavering commitment, expertise and collegiate support. Trifast
has also enjoyed long term shareholder and broker loyalty and
support since we floated in February 1994, for which I shall always
be appreciative."
"Meanwhile, I intend to continue fulfilling my ongoing Chair
roles as a fully independent director at discoverIE Group plc and
Flowtech Fluidpower PLC as the respective Boards continue to
develop their ambitious strategic growth ambitions."
Appointment of new Chair
The Trifast Board is pleased to announce that following the
appropriate process, initiated in November 2018, then undertaken by
the Nomination Committee and advisers, Jonathan Shearman, currently
a Non-Executive Director and Chair of the Remuneration Committee,
will succeed Malcolm as Non-Executive Chairman with effect from 1
April 2020.
After a successful career in investment fund management,
stockbroking, investment banking, and charitable foundations,
Jonathan has brought added skills to the Board in an energetic,
strategic and pragmatic manner, proving his ability to provide
direction in a TR context. He understands and fits within the
culture of Trifast at Board, operational and within the global
business teams; he also acknowledges the absolute need for
continuity being an essential aspect of him taking on the role of
Chair during this pivotal time.
The Board remains committed to good corporate governance and
ensuring there is a broad range of skill, diversity and experience
that it can draw upon. Consequently, TR is also in the process of
recruiting an additional, independent Non-Executive Director who
will succeed Jonathan as Chair of the Remuneration Committee and
further details of this will be shared with investors before the
end of the financial year.
Jonathan Shearman, Chairman elect commented:
"I am delighted to have been asked to take the Chair and succeed
Malcolm. Over the years I have enjoyed the challenge and work ethic
at Trifast and its culture which has been a critical component to
the success of the business, and it remains key to TR's future
growth. I look forward to continuing to work alongside the Trifast
team in driving the next stage of this international business'
transformation."
Trifast's CEO, Mark Belton added:
"It has been a privilege to both work with and develop a mutual
respect and friendship with Malcolm over my own 20-year career with
the Group. Over this time, he has played a key mentoring role from
which I and many of the senior team have been lucky enough to gain
invaluable commercial, PLC experience and stakeholder engagement;
this provided me with the knowledge base that has helped me develop
my roles at Board level and today as CEO. On behalf of the staff
around the globe, my main Board colleagues and all stakeholders, I
thank him for his contribution to the success of the business over
many years."
"I am also delighted that Jonathan has accepted the role as
Chair from next financial year; his wise counsel on many different
facets of business including creating shareholder value has played
an important role in the Trifast story since 2009. Given the
importance of continuity and culture, Jonathan's intimate knowledge
of the business, and our global aspirations we believe makes him
the right candidate at this time to take on the role of Chair and
we all look forward to working with him as we move forward in
delivering our future growth strategy."
There are no further details to be disclosed pursuant to Listing
Rule 9.6.13.
Enquiries please contact:
-------------------------------------------------------
Trifast plc
Malcolm Diamond MBE, Non-Executive Chairman
Neil Warner, Senior Independent Non-Executive Director
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: +44 (0) 1825 747630
Email: corporate.enquiries@trifast.com
Peel Hunt LLP (Stockbroker & financial adviser)
Mike Bell
Tel: +44 (0)20 7418 8900
TooleyStreet Communications (IR & media relations)
Fiona Tooley
Tel : +44 (0)7785 703523
Email : fiona@tooleystreet.com
Biographical notes:
Malcolm Diamond MBE is currently Non-Executive Chairman of
Trifast plc (stepped in as Executive Chairman in 2009 and then to
NED in April 2017), Flowtech Fluidpower PLC (since the AIM IPO in
2014) and discoverIE Group plc (formerly ACAL plc) (appointed NED
in 2015 and Chairman in 2016). He was previously CEO of Trifast plc
(1984-2002), Senior Non-Executive Director of Dechra
Pharmaceuticals PLC (2000-2010) and a Non-Executive Director of
Unicorn AIM VCT plc (2004-2013).
An experienced and respected professional in M&A, strategic
planning and forecasting. Jonathan Shearman joined Trifast in 2009
at the time of the restructuring for growth strategy was
implemented under the leadership of the Chairman, Malcolm Diamond
MBE which resulted in the business returning to growth on all
levels. He is currently also a Non-Executive Director at AIM listed
Orchard Funding Group plc, a position from which he retires from on
12 December 2019.
To read more about the lead team:
http://www.trifast.com/company/lead-team/
Photos available on request
Editors' note:
----------------------------------------------------------------------------
Trifast plc LSE Premium Listing: Ticker: TRI
LEI number: 213800WFIVE6RUK3CR22
Group website: www.trifast.com
About us: Trifast, leading international specialist in the engineering,
manufacture and distribution of high-quality industrial and Category
'C' fastenings principally to major global assembly industries. Key
sectors are automotive, domestic appliances, electronics and distributors.
The Group employs c.1,300 staff across 32 global locations across the
UK, Europe, Asia and the USA.
For more information, visit
Commercial website: www.trfastenings.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook: www.facebook.com/trfastenings
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAUWSNRKOAAAAA
(END) Dow Jones Newswires
November 19, 2019 02:01 ET (07:01 GMT)
Trifast (LSE:TRI)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Trifast (LSE:TRI)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024