Directorate Change
22 6월 2010 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 9928N
Chemring Group PLC
22 June 2010
FOR IMMEDIATE RELEASE
22 JUNE 2010
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
AND CHAIRMAN DESIGNATE
Chemring Group PLC ("Chemring" or the "Group") is pleased to announce that Peter
Hickson will be appointed as an independent non-executive director with effect
from 1 July 2010, and will succeed Ken Scobie as Chairman of the Board following
his retirement on 1 October 2010.
Mr Scobie joined Chemring as Chairman in June 1997. Over the last thirteen years
he has successfully led the Group through initially challenging times to full
recovery. Under his leadership the Group has changed beyond recognition, growing
its share price from a low of 76p to a high of over GBP36. The period of
significant and sustained growth over the last five years in particular has
established Chemring as a prominent international defence business and as a
market leader in its field.
Peter Hickson has had senior management experience with a number of large
international companies. He is currently Chairman of Communisis plc, Senior
Independent Director of London & Continental Railways Ltd, and a non-executive
director of Kazakhmys PLC. Further biographical details are set out below.
Ian Much, Senior Independent Director of Chemring, said: "On behalf of the Board
I would like to thank Ken for his immeasurable guidance and commitment to
Chemring over the past thirteen years. He has led the Board through a period of
sustained growth and transformation, and leaves the Group in an excellent
position to continue this success. Peter is an extremely experienced individual
with a strong track record, and the Board believes that he is the right person
to oversee the next stage of the Group's development.
Ken Scobie, Chairman, said: "I have greatly enjoyed my thirteen years as
Chairman of Chemring, during which time the Group successfully focused its
operations within niche markets, entered the FTSE 250 and achieved a market
capitalisation in excess of GBP1.25 billion. The transformation of the Group
could only have been achieved with the dedication and hard work of its
management and employees. I am grateful for the support they have given to me
and I wish them all well in the future."
There are no additional disclosures required to be made in accordance with LR
9.6.13R of the Listing Rules of the UK Listing Authority.
For further information:
+----------------+--------------------------------+----------------+
| Dr David Price | Chief Executive, Chemring | 01489 881880 |
| | Group PLC | |
+----------------+--------------------------------+----------------+
| Rupert Pittman | Cardew Group | 020 7930 0777 |
+----------------+--------------------------------+----------------+
Biographical details:
Peter Hickson (65) has had senior management experience with a number of large
international companies. He is currently the Chairman of Communisis plc, where
he is also Chairman of the Nominations Committee and a member of the
Remuneration Committee. Mr Hickson is also the Senior Independent Director of
London & Continental Railways Ltd, and a non-executive director of the FTSE 100
mining group Kazakhmys PLC, where he is a member of the Health, Safety &
Environment Committee.
He was Chairman of Anglian Water Group from 2003 to 2009, and served as Finance
Director of Powergen plc between 1996 and 2002. He was a non-executive director
of Scottish Power plc from 2006 to 2007, Marconi Corporation plc from 2004 to
2007, and RAC plc from 1994 to 2002. Mr Hickson is also a trustee and Board
member of Orbis Charitable Trust, the international sight saving charity, and a
Fellow of the Institute of Chartered Accountants.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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