19 May 2008 07:04
Cosalt plc
("Cosalt" or "the Group")
Appointment of Chief Executive
The Board of Cosalt is delighted to announce the appointment of Mark Lejman as Chief Executive with effect from 1 June 2008 following the resignation of Per Jonnson who will also step down from the Board at the same time.
Per Jonnson has played a key role in the implementation to date of the Group's strategy of building a major presence in the European marine safety market and the Board is grateful to him for his contribution and wishes him well for the future.
The outlook for the Group remains unchanged with positive trading conditions being experienced in our core businesses.
Mark Lejman, who will bring a wealth of experience, gained from an international industrial career spanning 30 years and in markets as diverse as Russia, China and Canada, is eminently qualified to lead the Group through the next and critical stage of its development including plans for building a significant global footprint.
From 1978 to 1998, Mr Lejman was at Courtaulds PLC where he held a number of senior management positions, latterly as CEO of its Tencel premium fibres division. In 1998, he was part of the team that led the management buy-out of Tencel from Akzo Nobel, which had acquired Courtaulds that year.
At Acordis Group, as Tencel became known, Mr Lejman was CEO of the group's Cellulosic Fibres division and played a key role in both the successful growth and eventual sale of the group in 2004.
Mr Lejman was then recruited by The Morgan Crucible Co PLC, as a Director and CEO of its Carbon Division. Between 2004 and earlier this year, he was instrumental in refocusing the group and building its presence in new growth market sectors.
Mr Lejman, is also currently a non-executive Director at Delta PLC.
John Kelly, Chairman, commented:
"Cosalt is undergoing a rapid and exciting transformation and has the opportunity to become a leader in the global marine and offshore oil and gas safety markets. The arrival of Mark, who has extensive hands-on international experience across a range of markets, will accelerate the implementation of our strategy"
19 May 2008
ENQUIRIES:
| College Hill | Tel: 020 7457 2020 |
| Mark Garraway |
There are no details to report in respect of Listing Rule 9.6.13 (2) to (6).
For further information, visit the Company website www.cosalt.com