Zotefoams PLC Group CEO succession (5264S)
07 November 2023 - 6:01PM
UK Regulatory
TIDMZTF
RNS Number : 5264S
Zotefoams PLC
07 November 2023
Zotefoams plc
('Zotefoams', the 'Company' or 'Group')
Group CEO succession
7 November 2023 - Zotefoams (LSE: ZTF), a world leader in
cellular materials technology, announces that David Stirling has
informed the Board of his intention to retire from his role as
Group CEO and from the Board within the next 12 months. David will
continue in his post until a successor is appointed and has
committed to remaining available thereafter, to support and advise
the business in executing an effective transition in the leadership
of the Group. T he Board has therefore commenced a formal
succession process, supported by global organisational consulting
firm Korn Ferry.
A director of Zotefoams for more than 26 years, David was
appointed as Group CEO in May 2000. Under his leadership, the Group
has been transformed into a global leader in specialist foam
technologies, with a diverse customer base, product range and
manufacturing operations in the UK, Europe, North America and
Asia.
The Group's new CEO will join a strong executive leadership team
with significant functional and market experience, gained from
within and outside the business. The Board remains confident that
the business remains well positioned to deliver long-term
sustainable growth across an increasingly broad spectrum of end
markets and geographies.
Dr Lynn Drummond, Chair of the Company, said: "David has made an
enormous contribution to Zotefoams . The Board is committed to
finding the right person to succeed him and we appreciate David's
support in enabling us to manage this succession in the most
effective way."
David Stirling, Group CEO, commented: "It has been a privilege
and pleasure to lead the development of Zotefoams , which is now a
multi-site global business. The time is now right for me to retire
and for the business to plan my succession . Zotefoams will
continue to receive my support and I will remain with the business
to help with the transitional period as a new CEO is
appointed."
There is no further information which would require disclosure
under LR9.6.13 of the Listing Rules of the Financial Conduct
Authority.
Enquiries:
Zotefoams plc +44 (0) 208 664 1600
David Stirling, Group CEO
Gary McGrath, Group CFO
IFC Advisory +44 (0) 203 934 6630
Graham Herring
Tim Metcalfe
Zach Cohen
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular
materials technology delivering optimal material solutions for the
benefit of society. Utilising a variety of unique manufacturing
processes, including environmentally friendly nitrogen expansion
for lightweight AZOTE(R) polyolefin and ZOTEK(R) high-performance
foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses
its own cellular materials to manufacture T-FIT(R) advanced
insulation for demanding industrial markets. Zotefoams also owns
and licenses patented microcellular foam technology to reduce
plastic use in extrusion applications and for ReZorce(R)
mono-material recyclable barrier packaging.
Zotefoams is headquartered in Croydon, UK, with additional
manufacturing sites in Kentucky, USA, Brzeg, Poland (foam
manufacture), Oklahoma, USA (foam products manufacture and
conversion), Massachusetts, USA, Stilling, Denmark (microcellular
foam technology) and Jiangsu Province, China (T-FIT).
www.zotefoams.com
AZOTE(R) , ZOTEK(R) , ReZorce(R) and T-FIT(R) are registered
trademarks of Zotefoams plc.
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END
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