Last checked at 5 Oct 2023 07:00
5 October 2023
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Coats Group plc
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Appointment of Non-Executive Director
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Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, announces that Sarah Highfield will join the Board as a Non-Executive Director, effective 1 November 2023. In addition, she will join the Audit and Risk Committee, as Chair Designate, and the Nomination Committee. Subject to shareholder approval of her nomination to the Board, Sarah will succeed Nicholas Bull as Chair of the Audit and Risk Committee following the 2024 Annual General Meeting of the Company expected to be held on 22 May 2024.
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Sarah was most recently Chief Executive Officer of Elvie, the female technology firm, having previously served as Chief Operating Officer & Chief Financial Officer and Deputy Chief Executive Officer. Sarah was also a Non-Executive Director and Chair of the Audit Committee at Seraphine Group plc, which was listed on the main market from 2021 to 2023.
Prior to joining Elvie, Sarah was Group Chief Financial Officer at Costa Coffee for over five years, including during the c£3.9bn sale to The Coca-Cola Company. She was also Chief Financial Officer of Tesco's Hungary and Slovakia businesses.
Sarah has significant experience of driving growth globally, including in the US and China.
David Gosnell OBE, Chair of Coats said 'I am delighted that Sarah will be joining the Board. Her strong financial background and strategic expertise in diverse sectors and geographies will bring valuable insights to Coats. I look forward to working with Sarah'.
No further information is required to be disclosed pursuant to Listing Rule 9.6.13.
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About Coats Group plc
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Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data, and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2022 were $1.6bn.
Trusted by the world's leading companies to deliver vital, innovative, and sustainable solutions, Coats provides value-adding products including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.
With a proud heritage dating back more than 250 years and spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide.
Coats connects talent, textiles, and technology to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to Science Based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity and inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.
To find out more about Coats visit www.coats.com.