Chemring Group PLC Directorate Change (3280K)
24 6월 2014 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 3280K
Chemring Group PLC
24 June 2014
FOR IMMEDIATE RELEASE 24 JUNE 2014
CHEMRING GROUP PLC
Directorate change
Michael Flowers appointed Group Chief Executive
Chemring Group PLC ("Chemring" or "the Group") announces that
Michael Flowers has been appointed Group Chief Executive with
immediate effect. Michael joined Chemring in 2006 and prior to
today's appointment was Group Director, Countermeasures and a
member of Chemring's Executive Committee.
Michael Flowers has spent 13 years in senior management
positions within the defence industry. He previously served as an
officer in the Australian Army for 22 years and was a graduate of
the Australian Command and Staff College and the British Royal
Military College of Science. After leaving the army, he was a
senior manager at BAE Systems from 2001 to 2006, in programme and
project management roles.
From 2006, he was Managing Director, Chemring Australia, where
he established a state of the art countermeasures manufacturing
facility and delivered substantial growth in the defence portfolio.
In 2013, he was appointed Group Director, Munitions, with
responsibility for Chemring's European munitions business. Michael
led the successful sale of the European munitions business
following the 2013 strategic review, working closely with
Chemring's Board and advisers to negotiate and complete the
disposal in May 2014.
Mark Papworth has stepped down from the Board of Chemring with
immediate effect.
Peter Hickson, Chairman of Chemring, said:
"Michael Flowers has a proven track record, both within the
international defence industry and within Chemring, where he led
our Australian business through a successful period of growth and,
more recently, managed the complex disposal process of the European
munitions business. Michael is extremely knowledgeable about our
markets and is well qualified to lead Chemring as we capitalise on
our world leading technologies in Countermeasures, Sensors &
Electronics and Energetic Systems.
Much has been achieved during Mark Papworth's tenure, including
a significant reorganisation and refocusing of the Group and a
substantial reduction in the cost base and we are grateful for his
leadership during this period.
We are now moving from a period of critical and significant
change to one where we must take maximum advantage of the stronger
platform that has been created. To achieve this, a different set of
skills is required in the role of Chief Executive, in particular
extensive knowledge and understanding of the defence markets in
which we operate."
Michael Flowers has a beneficial shareholding of 80,680 Chemring
shares.
There is no further information to be disclosed pursuant to
paragraph 9.6.13R of the UK Listing Rules in relation to Michael
Flowers' appointment as a director of Chemring.
Ends
For further information, contact:
Chemring Group PLC 01489 881 880
Peter Hickson, Chairman
Steve Bowers, Finance Director
Rupert Pittman, Group Director of Communications and Investor
Relations
MHP Communications 020 3128 8100
Andrew Jaques
John Olsen
James White
This information is provided by RNS
The company news service from the London Stock Exchange
END
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