(Alliance News) - Croda International PLC on Monday said Finance Director Jez Maiden will retire next year after eight years in the role and be replaced by the former chief financial officer of Meggitt PLC.
The FTSE-100 Yorkshire, England-based chemicals maker said Maiden, who joined Croda in January 2015, will step down from the board at the annual general meeting on April 26 next year and retire from the company on May 31.
Croda has hired Louisa Burdett to succeed Maiden on March 13 next year.
Burdett was mostly recently the CFO of aerospace firm Meggitt. The former FTSE 100 listing was bought by the US's Parker-Hannifin Corp and delisted in September.
Prior to Meggitt, she held CFO positions with medical retinal imaging company Optos, newspaper publisher Financial Times Group, manufacturing firm GE Healthcare, and CHEP Europe, a subsidiary of Brambles Ltd that deals in pallet and container pooling services.
During his eight years as finance chief, Croda said Maiden transformed "the finance, IT and digital functions, and developing a broad, diverse pool of talent. He also co-led the "successful separation of the majority of Croda's Performance Technology and Industrial Chemicals businesses, which accelerated the company's transition to be a pure-play Consumer Care and Life Sciences business".
Croda Chair Anita Frew said: "[Maiden] has been instrumental in the development and growth of Croda, always nurturing a culture of transformation."
Shares were down 0.2% at 6,496.00 pence each on Monday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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Croda International (CRDA)