Morgan Advanced Materials PLC Directorate Change (1643T)
02 July 2018 - 4:00PM
UK Regulatory
TIDMMGAM
RNS Number : 1643T
Morgan Advanced Materials PLC
02 July 2018
Press Release
Morgan Advanced Materials plc ("Morgan Advanced Materials" or
"the Company")
2 July 2018
Chairman change
The Board of Directors ("the Board") of Morgan Advanced
Materials announces that, after serving on the Board for six years,
Andrew Shilston intends to step down as Chairman and retire from
the Board at the end of 2018.
The Board has completed a process led by Laurence Mulliez, the
Senior Independent Director, to appoint Mr Shilston's successor and
announces that Douglas Caster CBE, Non-executive Director, will be
appointed Chairman, with effect from 1 January 2019.
Andrew Shilston has served as Chairman of Morgan Advanced
Materials since 1 August 2012, having been appointed to the Board
on 7 May 2012 as Non-executive Director and Chairman Designate.
Douglas Caster was appointed to the Board on 14 February 2014 as
an independent Non-executive Director. Douglas acted as Senior
Independent Director from 1 January 2015 to 8 December 2017 and has
acted as Chairman of the Remuneration Committee since his
appointment to the Board in February 2014. Further biographical
details about Douglas Caster may be found in the Notes at the end
of this announcement.
Laurence Mulliez, Senior Independent Director of Morgan Advanced
Materials, commented:
"The Board would like to thank Andrew for his very considerable
contribution to the Group. He has provided invaluable counsel and
guidance to the management team in implementing the new strategy
and re-shaping Morgan and leaves the Group well positioned to
achieve enhanced profitable growth. Andrew has completely renewed
the membership of the Board during his tenure and, on behalf of my
fellow Directors, I would like to thank him for his excellent
chairmanship and wish him well for the future."
Douglas Caster, Non-executive Director, commented:
"I am delighted to have been selected as the future Chairman of
Morgan Advanced Materials and look forward to continuing to
contribute to the long-term success of the Company."
The Board will now commence a process to select an additional
Non-executive Director.
Appointment of Chair of the Remuneration Committee
The Board also announces that Helen Bunch, non-executive
Director, will succeed Douglas Caster as Chair of the Remuneration
Committee with effect from 1 January 2019. Helen Bunch has served
on the Board since 24 February 2016 and as a member of the
Remuneration Committee since her appointment.
This notification is given in accordance with LR 9.6.11. There
are no further matters to be disclosed pursuant to Listing Rule
9.6.13.
For further enquiries:
Morgan Advanced
Pete Raby Materials plc 01753 837 000
Peter Turner
Notes:
Douglas Caster is currently Chairman of Ultra Electronics, a
role he assumed in April 2011, having served on the Board since
1993. Douglas is also Chairman of Metalysis Limited. Douglas has
more than 40 years' experience in engineering, having begun his
career as an electronics design engineer with Racal Electronics
Group in 1975. He also worked at Schlumberger and subsequently
Dowty, where he participated in the management buyout which formed
Ultra Electronics.
Legal Entity Identifier: I4K14LL95N2PHDL7EG85
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END
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