Last checked at 23 Feb 2023 07:00
For Immediate Release 23 February 2023
Genus plc('Genus', or the 'Company')
Chief Executive Officer Retirement
Genus plc (LSE: GNS), a leading global animal genetics company, announces that Stephen Wilson, Chief Executive, has informed the Board of his intention to retire after ten years with the Company, the last four of which as Chief Executive Officer. Stephen has committed to remain with Genus until 30 September 2023 in order to achieve a smooth transition to a successor, while continuing to drive business strategy and performance.
A formal search for Stephen's successor has been initiated with an executive search agency and a further announcement will be made in due course.
On behalf of the Board, Iain Ferguson, the Chairman of Genus commented;
"During Stephen's time at Genus, including six years as Chief Financial Officer and four years as Chief Executive, the Company has made great strategic progress as a world-leading animal genetics company, making great strides in its vision to sustainably pioneer animal genetic improvement to help nourish the world.
"Stephen has overseen significant investment in the Group to support its long term strategic growth. These contributions have included the global launch of Sexcel, the significant strengthening of the Group's Research and Development capabilities, the ongoing PRRSv development programme, driving the Company's digital transformation, energising the Company's sustainability focus, broadening our geographic focus including growth in India and China, and investing in best in class animal facilities around the world. Stephen will leave the Company in excellent shape with a world-class leadership team, world-class genetics, and a growing innovation platform to enable the company to pursue many exciting future opportunities. Stephen has provided the Company with many years of strong leadership, and the Board and I remain excited by the Company's prospects. On behalf of the Board and all at Genus, I would like to thank Stephen for his commitment to the Company and his significant contributions to its success."
Stephen Wilson added "It has been a great privilege to lead such a talented group of people and develop a leading global agricultural biotechnology business with sustainability at the very heart of its development activities. After four years as Chief Executive and ten years as an executive director, I believe now is the right time for me to move to the next phase of my life. Genus has many strong growth opportunities, and I will remain fully focused on the continued successful execution of our strategy while the Board progresses the search for my successor."
Genus | Tel: +44(0)1256 345970 |
Iain Ferguson, ChairAlison Henriksen, Chief Financial Officer | |
Buchanan | Tel: +44(0)207 466 5000 |
Charles Ryland / Chris Lane / Verity Parker |
This announcement is available on the Genus website www.genusplc.com
About Genus
Genus is a world-leading animal genetics company. Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.
Genus's worldwide sales are made in over seventy-five countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chains.
The Group's competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus companies operate in over twenty-five countries on six continents, with research laboratories located in Madison, Wisconsin, USA.
Regulatory Notes
Details of Stephen Wilson's terms of departure are still to be finalised. Any such terms will be consistent with the Company's approved Directors Remuneration Policy. Details of any payments to be made to Stephen will be posted on the Company's website, in accordance with section 430(2B) Companies Act 2006.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014. The person responsible for making this announcement on behalf of the Group is Dan Hartley (General Counsel and Company Secretary).
This announcement is made in accordance with Listing Rule 9.6.11R. There are no matters to be disclosed in connection with Listing Rule 9.6.13R (2) - (6).