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18 Nov 2024 07:00
18 November 2024
Elementis plc
Chief Executive Succession
Elementis plc (the "Company"), today announces that, following a period of discussion, Paul Waterman has agreed with the Board that it is the right time to transition the leadership of Elementis to a new Chief Executive Officer, following his nine years of service. Paul has agreed to remain with the Company until a successor is appointed, and will step down no later than the Company's Annual General Meeting in April 2025, remaining available as required for any transition or other support until the end of July 2025.
The Board has initiated a process to identify and appoint a successor, and a further announcement in relation to this will be made in due course.
Paul Waterman, CEO of the Company, said:
"Over the past nine years it has been my privilege to lead Elementis as we have transformed the group into a higher quality, more focused specialty chemicals business. The Company is now well positioned for future success as a result of our focused strategy implementation and the commitment of a very talented Elementis team. I am confident that performance will further improve through 2025 and 2026, making now an appropriate time for a leadership transition."
John O'Higgins, Chair of the Company, said:
"On behalf of the Board, I should like to thank Paul for his long tenure of leadership of Elementis and we wish him the very best for the future. He will be leaving the Company in a strong strategic and financial position and with many exciting opportunities ahead."
This announcement is made in accordance with UK Listing Rule 6.4.6.
This announcement contains inside information. The person responsible for the release of this announcement on behalf of the Company is Anna Lawrence, Group General Counsel and Company Secretary.
Notes:
Paul Waterman will be treated in accordance with the Company's Remuneration Policy and his service agreement for the remaining term of his contract. Full details will be disclosed on the Company's website in compliance with Section 430(2B) of the Companies Act 2006 in due course, and in the Directors' Remuneration Report within the Company's Annual Reports for the years ended 31 December 2024 and 31 December 2025.
Enquiries:
Eva Hatfield, Head of Investor Relations 07553 340380
Media:
Martin Robinson/Olivia Peters, Teneo 020 7353 4200
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