Last checked at 7 Aug 2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
7 August 2023
Carr's Group plc
("Carr's", the "Company", or the "Group")
CEO succession
Carr's (CARR.L), the Agriculture and Engineering Group, announces that Peter Page, Chief Executive Officer, has agreed with the Board that he will not seek re-election at the Company's next annual general meeting ("AGM"), currently expected to be held in January 2024 and will step down from the Board following the conclusion of the AGM. Peter Page joined the Company in November 2019, was appointed Non-executive Chairman in January 2020 and took on the interim role as Executive Chairman in October 2021 before being appointed Chief Executive Officer in February 2023.
The Board is initiating plans for Mr Page's succession in accordance with its strategy and future leadership requirements and further announcements will be made in due course, as appropriate.
Tim Jones, Chairman, said:
"We thank Peter for skilfully navigating the business through a number of difficult and challenging years, including the successful disposal of our Agricultural Supplies division. Peter will leave the Group with a strong balance sheet, an engineering division with a strong orderbook and a Speciality Agriculture division poised for long-term growth when its end markets recover."
Peter Page said:
"I would like to thank all of my colleagues at Carr's with whom I have worked over the recent years. I will support the Board in the completion of key milestones before ensuring an orderly handover to my successor."
The person responsible for arranging the release of this announcement on behalf of the Company is Paula Robertson, Assistant Company Secretary.
Enquiries:
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Carr's Group plc | +44 (0) 1228 554 600 |
Tim Jones, Chairman | |
FTI Consulting | +44 (0) 203 727 1340 |
Richard Mountain/Ariadna Peretz |
About Carr's Group plc:
Carr's is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers around the world. Carr's operates a business model that empowers operating subsidiaries enabling them to be competitive, agile, and effective in their individual markets whilst setting overall standards and goals.
The Speciality Agriculture division manufactures and supplies feed blocks, minerals and boluses containing trace elements and minerals for livestock.
The Engineering division manufactures vessels, precision components and remote handling systems, and provides specialist engineering services, for the nuclear, defence and oil & gas industries.