Last checked at 3 Mar 2021 07:00
3 March 2021
Coats Group plc
Change of Remuneration Committee Chair and changes to the membership of the Remuneration Committee and the Audit and Risk Committee
Coats Group plc ('Coats,' the 'Company' or the 'Group'), the world's leading industrial thread manufacturer, announces that Hongyan Echo Lu, Independent Non-Executive Director, will assume the role of Chair of the Remuneration Committee with effect from 1 May 2021.
Echo has been a member of the Company's Remuneration Committee since joining the Coats Group plc Board as a Non-Executive Director on 1 December 2017. Echo will succeed David Gosnell as Chair of the Remuneration Committee. David will step down as Chair and as a member of the Remuneration Committee and as a member of the Audit and Risk Committee with effect from 1 May 2021. This is ahead of his appointment as Chair of the Board of Coats Group plc, which is due to take effect at the conclusion of the Company's Annual General Meeting scheduled for 19 May 2021.
It is also announced that Nicholas Bull, Independent Non-Executive Director and Senior Independent Director, will join the Remuneration Committee on 1 May 2021.
This announcement is made pursuant to LR 9.6.11 of the Listing Rules and further to the announcement of 24 November 2020.
Enquiry details
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Investors | Victoria Huxster | Coats Group plc | +44 (0)7880 471 350 |
Media | Richard Mountain / Nick Hasell | FTI Consulting | +44 (0)20 3727 1374
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About Coats Group plc
Coats is the world's leading industrial thread company. At home in some 50 countries, Coats has a workforce of 17,000 people across six continents. Revenues in 2019 were US$1.4bn. Coats' pioneering history and innovative culture ensure the company continues leading the way around the world. It provides complementary and value added products, services and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns and fabrics in areas such as Transportation, Telecommunications and Energy, and Personal Protection. Headquartered in the UK, Coats is a FTSE 250 company, a constituent of the FTSE4Good Index Series, a participant in the UN Global Compact and a member of the Ellen MacArthur Foundation. To find out more about Coats visit www.coats.com.