(Alliance News) - Synthomer PLC on Monday said Caroline Johnstone has been hired as deputy chair effective immediately, and will assume the role of chair following Neil Johnson's exit.
Johnson - who was appointed to the board in September 2011 - will serve as chair until the end of the year, after which he will be succeeded by Johnstone.
Johnstone is currently audit committee chair and joined the FTSE 250-listed chemicals firm as a non-executive director in 2015.
She has nearly 40 years' experience of working with large global organisations on turnaround, culture change, delivering value from mergers and acquisitions and cost optimisation programmes, Synthomer said.
"It has been a pleasure serving on the board of Synthomer since 2011, during which time we have made significant progress in establishing the company as a leading, global, differentiated chemicals business. I am delighted that I will be succeeded as chair by Caroline Johnstone, who has made a significant contribution to the company during her time on the board, and I look forward to continuing to serve Synthomer until I hand over by the end of the year," Johnson said.
Separately, the company said Non-Executive Director Lee Hau Hian bought 44,000 shares at 224.7 pence each for a total of GBP98,868 in a transaction on Thursday.
The stock was trading 5.7% higher at 242.01p each on Monday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Synthomer (SYNT)