30 May 2012 07:00
Embargoed: 0700hrs 30 May 2012
Cape plc
("Cape" or the "Group")
Appointment of Group Chief Executive Officer
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, is pleased to announce the appointment of Joe Oatley as Group Chief Executive Officer with effect from 29 June 2012.
Joe joins Cape from Hamworthy plc, a global engineering business serving the oil & gas industry. Joe joined Hamworthy as Chief Executive in 2007 and led the group until its recent takeover by Wartsila. Prior to this his experience was predominantly in the engineering sector in a variety of roles including managing director, in strategy development and acquisitions.
Concurrent with Joe's appointment as CEO, Brendan Connolly will step down as acting CEO and be reappointed as a member of the Audit, Remuneration and Nomination Committees with effect from the same date.
In addition, further to David McManus' decision to stand down from the Board as a Non-executive Director once a suitable replacement is found, as announced on 31 August 2011, the Board has appointed Brendan Connolly as Chairman of the Remuneration Committee and Michael Merton as Senior Independent Director, both appointments being with effect from 29 June 2012.
Tim Eggar, Cape's Chairman, commented: "I am delighted to welcome Joe to Cape and believe his background in the sector and track record with Hamworthy make him the perfect appointment to take Cape into the next stage of its development. I would also like to thank Brendan for his huge contribution as acting CEO, both for the continuity he has provided and the extent of his efforts in recent weeks."
Joe Oatley commented: "Cape has an established position as a global leader in providing mission critical services to the energy and mineral resources sectors. I am excited to be joining the business and look forward to building on the core strengths of the group to deliver long term value to shareholders."
Joe is a former director of Hamworthy plc. In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Joe Oatley.
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Enquiries:
Cape plc
Tim Eggar +44 (0)20 7920 2347
M: Communications
Patrick d'Ancona +44 (0)20 7920 2347
Ben Simons +44 (0)20 7920 2340
About Cape:
Cape plc (www.capeplc.com), which is listed on the main market of the London Stock Exchange, provides a range of non-mechanical industrial services including access systems, insulation, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.
As a single source provider, Cape is able to provide a range of specialist multi-disciplinary services specifically tailored to meet the needs of the client providing the most intelligent and cost efficient solutions for our customers' non-mechanical in-plant maintenance and capital needs.
In the year ended 31 December 2011, Cape reported revenues of £722.5 million. With scale and leading market positions across its international footprint, Cape employs over 19,000 people in 30 countries.