Victrex PLC Directorate Change (1077D)
24 June 2019 - 4:01PM
UK Regulatory
TIDMVCT
RNS Number : 1077D
Victrex PLC
24 June 2019
24 June 2019
Victrex plc - Directorate change
Victrex announces retirement of Executive Director Tim
Cooper
Victrex plc today announces that Tim Cooper, Executive Director,
has notified the Board of his intention to retire from the Company
with effect from 20 June 2020 after 10 successful years at Victrex.
It has been agreed that he will step down from the Board and his
executive role on 30(th) September 2019.
Tim joined Victrex in January 2010 as Managing Director of the
Industrial division. As Executive Director, he has responsibility
for the Industrial division and the Group's sales and operations
functions.
Victrex has no current plans to directly replace Tim and his
functional responsibilities will be assumed by the other Executive
Directors. Martin Court, Executive Director, will now oversee the
Group's market-based activities across its Industrial and Medical
divisions as Chief Commercial Officer, effective from 1(st) October
2019, and there will be no change to the divisional financial
reporting structure. Tim will support an appropriate handover and
transition process.
Larry Pentz, Chairman of Victrex, said: "On behalf of the Board,
I would like to thank Tim for his service to Victrex and wish him
well in his retirement. Over 10 years he has helped Victrex pioneer
new markets and drive forward our commercial activities. Tim has
made an extremely valuable contribution to Victrex, which keeps us
well placed for the medium to long term."
Jakob Sigurdsson, Chief Executive of Victrex, said: "I would
like to thank Tim for his support, insight and wise counsel since I
joined as Chief Executive in 2017. We wish him well in his
retirement, which is well deserved."
Tim remains a non-executive director of Renold plc.
Notes:
All remuneration arrangements for Tim Cooper are in accordance
with Victrex's Remuneration Policy. For the purposes of incentive
awards the Remuneration Committee has determined Tim to be a good
leaver. Details of the remuneration arrangements relating to Tim's
retirement will be posted on Victrex's website in accordance with
section 430(2B) of the Companies Act 2006.
Enquiries:
Victrex plc:
Andrew Hanson, Director of Investor Relations & Corporate
Communications
+44 (0) 1253 898121 / +44 (0) 7809 595831
About Victrex:
Victrex is an innovative world leader in high performance
polymer solutions, focused on the strategic markets of automotive,
aerospace, energy (including manufacturing & engineering),
electronics and medical. Every day, millions of people use products
and applications which contain our materials - from smartphones,
aeroplanes and cars to oil and gas operations and medical devices.
With over 40 years' experience, we develop world leading solutions
in PEEK and PAEK based polymers, semi-finished and finished parts
which shape future performance for our customers and our markets,
and drive value for our shareholders. Find out more at
www.victrexplc.com or follow us on LinkedIn and Twitter
@victrexir
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END
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