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(Alliance News) - Victrex PLC on Tuesday said Chief Commercial Officer Martin Court has informed the board he intends to retire after ten years with the group.
Victrex is a Lancashire, England-based polymer solutions company with sustainable products aiming for environmental and societal benefits in multiple end-markets.
It said Court will retire from the board after the Victrex board meeting in September and will remain with the company until December 31 to support a smooth transition.
Court joined Victrex in 2013 as managing director for Medical & Emerging Business, before joining the board in 2015 and being appointed CCO in October 2019.
As CCO, Victrex said Court oversaw the Medical & Industrial divisions, as well as a number of group functions, including marketing, sales, and research and development.
Victrex said it plans to create two roles covering Court's responsibilities, sitting below board level and reporting to Chief Executive Officer Jakob Sigurdsson.
These roles will be managing director for Medical, taken by John Devine, and managing director for Sustainable Solutions (Industrial), for which a recruitment process is currently underway involving both internal and external candidates.
"The board is grateful to Martin for his strong contribution to Victrex," said Chair Vivienne Cox.
"He has played a leading role in our Polymer & Parts strategy, including broadening our core business portfolio and driving progress in our mega-programmes."
CEO Sigurdsson added: "He has been integral to Victrex's transition into a solutions-based company, as well as ensuring that our innovative culture translates across all of our growth programmes.
"He will retire at a time when a number of our mega-programmes are reaching an inflection point, with major [original equipment manufacturer] partnerships and line of sight to a material revenue opportunity over the coming years."
Shares in Victrex were down 0.3% to 1,585.00 pence each in London on Tuesday morning.
By Greg Rosenvinge, Alliance News reporter
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