4 Feb 2014 07:00
Low & Bonar PLC
("Low & Bonar" or "the Group")
Retirement of Chief Executive
The Board of Low & Bonar today announces that Steve Good, its Group Chief Executive, has informed the Board of his intention to retire from full time executive roles.
Steve has been instrumental in the reshaping and repositioning of the Group, having been in a number of senior management and strategic roles over the last 10 years. He has been Chief Executive of the Group since September 2009, during which time it has progressed significantly, transforming it into a market leader in performance materials and positioning the business into fast growing markets outside Europe.
A search for a new Chief Executive has begun. Steve will remain in his current role until the second half of this year before handing over to his successor.
Martin Flower, Chairman, said:
"Low & Bonar has benefited greatly from Steve's leadership over the last five years and we shall miss him. The Group is much stronger, more focused and more resilient as a result of his direction and guidance and the Board is confident of achieving continued profitable growth in future.
On behalf of the Board and all his colleagues, I should like to thank Steve for his outstanding contribution to the development of Low & Bonar and wish him an enjoyable and fulfilling retirement."
Steve Good said:
"This was not an easy decision. I've spent ten very enjoyable years in Low & Bonar working with a talented group of people to build the focused business it is today. I would like to thank them all for their help and contribution. The Group is in great shape with exciting growth opportunities and this year is the right time for me to hand over to a successor to lead Low & Bonar on the next stage of its development."
4 February 2014
Enquiries:
Low & Bonar PLC | 020 7535 3180 |
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Martin Flower, Chairman |
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Steve Good, Group Chief Executive |
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Instinctif Partners | 020 7457 2020 |
Helen Tarbet |
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Matthew Smallwood
Numis Tim Rowntree |
020 7260 1000 |
The information required to be made available under section 430(2B) of the Companies Act 2006 in relation to Mr Good's retirement will be made available on the Company's website at the time at which he ceases to be a director.