Zotefoams
plc
('Zotefoams', the 'Company' or 'Group')
Group CEO
succession
26
March 2024 - Further to its
announcement of 7 November 2023, Zotefoams (LSE: ZTF), a world
leader in cellular materials technology, announces the appointment
of Ronan Cox as Group CEO Designate. Ronan will join the Company on
2 April 2024 and will be appointed to the Board as an Executive
Director and succeed David Stirling as Group CEO at the conclusion
of the 2024 AGM, due to be held on 22 May 2024. Following his
stepping down from the Board, David will remain to ensure a smooth
transition until 31 October 2024.
Ronan has extensive international
leadership experience, most recently as President of Performance
Materials at Coats Group plc, the FTSE 250 world's leading
industrial thread and footwear components manufacturer.
Commenting on the changes, Dr Lynn
Drummond, Chair of the Company, said: "Under David's outstanding leadership, and following
significant investment over the last decade, the Group has extended
from a single site in the UK to include operations in Europe, North
America and Asia. This footprint, together with Zotefoams'
operational and commercial teams, provide both the capacity and
capability to support continued profitable growth from the Group's
core AZOTE® Polyolefin Foams and HPP foams businesses.
The Group continues to progress the development and
commercialisation of its unique recyclable barrier packaging
technology, ReZorce® Circular Packaging.
With a strong and dedicated
leadership team in place to support him, I am delighted to welcome
Ronan to Zotefoams. Ronan brings a wealth of experience and I am
confident he will make a significant contribution to the Group. I
very much look forward to working with him."
David Stirling, Group CEO, said:
"Leading Zotefoams for the past 24 years has been the greatest
privilege of my professional life. I am proud of the role that my
team has played in the Group's success and know that they will
fully support Ronan in his transition to the role."
Ronan Cox, Group CEO Designate,
commented: "Zotefoams is a business with a
long history of sustainability and growth. I am honoured and
excited to have the opportunity to lead a company with a strong
heritage and build on David's significant achievements."
Ronan Cox Biographical Notes
Ronan is an accomplished executive
leader with extensive experience in driving business transformation
and growth. Most recently, he served as interim CEO for Lontra, a
green technology company delivering ground-breaking air compressor
designs, and President, Performance Materials for Coats Group plc,
a world leader in thread and component manufacturing for apparel
and footwear and textile based performance materials for industries
ranging from personal protection to automotive and telecoms. Ronan
also built and led the innovation teams across the Coats group with
a focus on the transition to sustainable and circular product
solutions. Ronan held a number of other executive roles in Coats,
which he joined in 1995, including Chief Transformation Officer,
Regional CEO EMEA & Americas, Regional CEO South East Asia and
Managing Director in several regions, including Europe and North
Africa. Ronan has a Bachelor's degree in Information
Management and Economics from Queen's University, Belfast and has
completed an international Executive Business Programme with INSEAD
in France and Singapore.
This announcement includes the
information required by Listing Rules 9.6.11 to 9.6.13, and there
is no information to report under Listing Rule 9.6.13R (2) - (6)
inclusive.
Enquiries:
Zotefoams plc
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+44
(0) 208 664 1600
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David Stirling,
Group CEO
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Gary McGrath, Group CFO
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IFC
Advisory
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+44
(0) 203 934 6630
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Graham Herring
Tim Metcalfe
Zach Cohen
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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® polyolefin and
ZOTEK® high-performance foams, Zotefoams sells to
diverse markets worldwide. Zotefoams uses its own cellular
materials to manufacture T-FIT® 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® 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®,
ZOTEK®, ReZorce® and T-FIT® are
registered trademarks of Zotefoams plc.