Last checked at 24 May 2023 07:00
FOR IMMEDIATE RELEASE 24 MAY 2023
CHEMRING GROUP PLC ("Chemring", the "Group" or the "Company")
APPOINTMENT OF CHIEF FINANCIAL OFFICER
Chemring is pleased to announce the appointment of James Mortensen as Chief Financial Officer.
James has a proven track record in industrial, engineering and technology sectors with extensive experience in building and managing global, multi-disciplinary finance teams. He joins Chemring from Smiths Group plc ("Smiths"), the FTSE 100 engineering group where he has spent the last seven years.
James joined the Smiths M&A team in 2016 and, having played a key role in scaling ventilator manufacturing during COVID for the UK Government, he became Chief Financial Officer of the $1.1bn revenue Smiths Medical Division in 2020. He held this role until the sale of Smiths Medical for $2.7bn in February 2022, having also prepared the business for a London listing. He is currently Group Head of Corporate Development with responsibility for sourcing, evaluating and executing acquisitions across the four major global markets where Smiths operate: Security & Defence, Aerospace, General Industry and Energy.
Prior to Smiths James spent eight years at Smith & Nephew plc, the FTSE 100 medical technology company where he held progressively senior finance roles in the areas of group reporting, strategic planning and corporate finance.
Having graduated from Bristol University James started his career at KPMG in their audit practice and is a fellow of the Institute of Chartered Accountants of England and Wales.
James will take over from Andrew Lewis, who announced his intention to retire on 23 January 2023 and whose notice period runs until 22 January 2024. The Group is working with James to agree the date on which he will join Chemring. A further announcement will be made in due course.
Carl-Peter Forster, Chairman of Chemring, said:
"I am delighted to welcome James to Chemring. He has a proven track record of success with strong financial and analytical skills, coupled with valuable M&A experience.
"Considerable work has been done in recent years to strengthen Chemring's balance sheet and reposition itself. James's broad experience within the industrials sector will be of great benefit to the Group as we balance near term performance with long term growth and value creation for all our stakeholders. The Board look forward to working with him."
There are no other matters requiring disclosure under Listing Rule 9.6.13.
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794 463401
Chemring Group PLC
James McFarlane MHP Communications 020 3128 8100
Ollie Hoare
Notes to editors
· Chemring is a FTSE-250 global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets
· Employing approximately 2,500 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries
· Chemring is organised under two strategic product segments: Sensors & Information and Countermeasures & Energetics
· Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats
· Operating in niche markets and with strong investment in research and development ("R&D"), Chemring has the agility to rapidly react to urgent customer needs
www.chemring.com