ConvaTec Regulatory News (CTEC)

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014

Board changes

Reading, United Kingdom (25 March 2019) - Today, the Board of ConvaTec Group Plc ("ConvaTec" or "the Group") announced the appointment of Karim Bitar as Chief Executive Officer, effective from 30 September 2019. Following this appointment, Sir Christopher Gent, the Chairman, has advised the Board that he wishes to retire and therefore will not seek re-election as a Director at the Group's forthcoming Annual General Meeting on 9 May 2019. A Special Nominations Committee has been established to identify Sir Christopher's successor as Chair of the Board.

Rick Anderson, currently interim Chief Executive Officer ("CEO") of ConvaTec, has agreed to temporarily serve as Executive Chairman until a new Chair has been appointed, effective from 9 May 2019. The Board has appointed Rick to the Executive Chairman role on a temporary basis to maintain continuity within the senior leadership of the Company during the transitional period until the new Chief Executive Officer joins on 30 September and to drive the recently announced transformation initiative. Rick will then move to be Non-Executive Chairman until a permanent appointment is made.

The Board also announces that Steve Holliday, Deputy Chairman and Senior Independent Director, has resigned as a member of the Board with effect from 31 March 2019. In his place, Margaret Ewing will be appointed as Senior Independent Director from that date and Ros Rivaz will be appointed as Chair of the Remuneration Committee and member of the Audit & Risk Committee. Both Margaret and Ros are currently Independent Non-Executive Directors of ConvaTec and have strong relevant executive and non-executive experience across the sector and with large listed businesses.

Sir Christopher Gent said:

"Following the announcement of Karim Bitar's appointment as Chief Executive Officer, both Steve and I have concluded that this is the right time to step down from the Board of ConvaTec. I would like to thank Steve for his valuable contribution to the Board since he became a Director in 2016, in particular successfully leading the process to appoint our new CEO.

"I would also like to thank Rick for agreeing to stand in as Executive Chairman until our new CEO, Karim Bitar, commences his duties at the end of September, or until such time as the Board is in a position to announce the appointment of a new Chair.

"Under Rick's leadership, ConvaTec is now making good progress on our Pivot to Growth initiative, designed to address the past performance issues within and across the Group and to establish the platform to return the Group to the growth rate rightly expected by our shareholders.

"Margaret and Ros have made a significant contribution to ConvaTec since joining the Board in 2017. Their additional responsibilities will serve shareholders well as ConvaTec continues to execute on its operational transformation agenda."

This announcement is made in accordance with Listing Rule 9.6.11R(1).

Enquiries:

Media mediarelations@convatec.com

Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842226

James Bradley / Alastair Elwen, Finsbury +44 (0)207 2513801

Analysts and Investors investorrelations@convatec.com

John Crosse, VP Investor Relations, ConvaTec +44 (0)7500 141 435

Mark Reynolds, Director Investor Relations, ConvaTec +44 (0)7551 036625

About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.

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