Low & Bonar PLC Chairman succession (1252X)
08 August 2018 - 4:01PM
UK Regulatory
TIDMLWB
RNS Number : 1252X
Low & Bonar PLC
08 August 2018
LEI213800CALFKOEL7N7P10
Low & Bonar PLC
("Low & Bonar" or the "Company")
Chairman succession
Low & Bonar today announces that, after eight years as
Chairman and 11 years as a Director of the Company, Martin Flower
has notified the Board of his intention to retire and will step
down from the Board with effect from 11 September 2018. The Board
is pleased to announce that Daniel Dayan will join the Company on
11 September 2018 as non-executive Chairman.
Daniel Dayan has extensive experience within the global polymer
technology sector. He was appointed Group Chief Executive Officer
of Klöckner Pentaplast Group ("KP") in November 2017 and was
Chairman and Chief Executive Officer of LINPAC Packaging from 2015
until its acquisition by KP in 2017. From 2014 to 2016 he was
non-executive Chairman of the Nonwovens Innovation and Research
Institute Ltd and from 2005-2013 was CEO of global non-woven
fabrics producer, Fiberweb plc.
Daniel Dayan is currently a non-executive director and chairman
of the remuneration committee at Chemring plc ("Chemring"). Having
accepted the role at Low & Bonar, he has notified Chemring that
he will step down from this position and leave the board as soon as
a suitable replacement is appointed.
Trudy Schoolenberg, Senior Independent Director, commented:
"We are delighted to welcome Daniel Dayan to the Board and look
forward to working together.
On behalf of the whole Board, I would like to express my thanks
and appreciation to Martin for his wise counsel and committed
service to Low & Bonar during the past 11 years. He will be
missed by all of us, and we wish him a long and happy
retirement."
Martin Flower said:
"It has been a pleasure to lead the Board of Low & Bonar.
Despite the current challenges, Low & Bonar is a high-quality
business with opportunities for profitable growth. I wish the
Company well."
Daniel Dayan commented:
"Low & Bonar has considerable potential to develop and
create value. I look forward to getting to work immediately with
the Board as it continues to develop and implement Low &
Bonar's strategy to deliver sustainable, profitable growth."
There are no further disclosures required pursuant to paragraphs
9.6.11 to 9.6.13 of the Listing Rules.
For further information, please contact:
Low & Bonar PLC 020 7535 3180
Trudy Schoolenberg, Senior Independent Director
Instinctif Partners 020 7457 2020
Matthew Smallwood
Helen Tarbet
Rosie Driscoll
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END
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