Last checked at 6 Sep 2019 07:00
Ricardo PLC
6 September 2019
RICARDO PLC
DIRECTORATE CHANGES
Ricardo plc ("Ricardo") today announces the following changes to its board of directors:
·; Peter Gilchrist is planning to stand down as Non-Executive Director, Senior Independent Director and Chairman of the Remuneration Committee, following 9 years of service, at the end of the Annual General Meeting in November 2019.
·; Ricardo is pleased to announce, following recommendation from the Nomination Committee, the appointment of Russell King as a Non-Executive Director on 5 September 2019 and it is intended that he will succeed Peter Gilchrist as Chairman of the Remuneration Committee with effect from the close of the Annual General Meeting in November 2019.
Russell King is Chairman of Hummingbird Resources plc, Senior Independent Director and Remuneration Committee Chair of Spectris plc. Russell is also an Independent Non-Executive of BDO LLP. Between 2010 and 2013 he was a Senior Advisor to RBC Capital Markets on Metals and Mining. Prior to this, Russell served as Chief Strategy Officer at Anglo American plc. Additionally, Russell was Senior Independent Non-Executive Director of Aggreko plc, from February 2007 to April 2017. Russell is a Non-Executive Director of Interserve PLC (In Administration). Russell will resign from this role when the administration has been completed
Sir Terry Morgan CBE, Chairman of Ricardo, said:
"I am delighted to welcome Russell to the board of Ricardo. He brings a wide range of international and engineering experience and, as a non-executive director, has served as Remuneration Chair. I am confident that Russell's experience will be of great benefit to Ricardo."
Information Notified Pursuant to Listing Rule 9.6.13
Russell King holds or has held, the following directorships of publicly quoted companies in the previous five years:
Hummingbird Resources plc (November 2014 - present)
Spectris plc (October 2010 - present)
Interserve PLC (In Administration) (September 2014 - present)
Aggreko plc (February 2007 - April 2017)
Sepura plc (August 2014 - October 2016)
In addition, Ricardo is pleased to announce, following recommendation from the Nomination Committee, the appointment of Jack Boyer OBE, as Non-Executive Director on 5 September 2019.
Jack is a non-executive director of TT Electronics plc where he is a member of the Audit, Remuneration and Nominations committees. He chairs the Board of Trustees of the University of Bristol and is a non-executive director of the Henry Royce Institute for Advanced Materials.
He recently chaired AIM listed company Seeing Machines and was previously a non-executive director at FTSE 250 companies Mitie plc and Laird plc where he chaired the Remuneration committees and was a member of the Audit and the Nominations Committees. His earlier career experience was as a successful entrepreneur and CEO in engineering and biosciences.
Jack holds degrees from Stanford University (BA Hons), the London School of Economics (M.Sc.) and Insead (MBA).
Jack was awarded an OBE in 2015 for services to Science and Engineering.
Sir Terry Morgan CBE, Chairman of Ricardo, said:
"I am delighted to welcome Jack to the board of Ricardo. He brings a wide range of entrepreneurial, engineering and scientific experience and, as a non-executive director, has served in a number of significant roles. I am confident that Jack's experience will be of great benefit to Ricardo."
Information Notified Pursuant to Listing Rule 9.6.13
Jack Boyer holds or has held, the following directorships of publicly quoted companies in the previous five years:
TT Electronics plc (June 2016 - present)
Mitie Group plc (June 2013 - August 2018)
Laird plc (May 2013 - April 2016)
Ilika plc (March 2004- September 2015)
In accordance with the Listing Rules, there are no further matters requiring disclosure under LR 9.6.13R of the Listing Rules of the Financial Conduct Authority in relation to the appointments of Russell King and Jack Boyer.
Additionally, Sir Terry Morgan CBE is planning to stand down as Chair of the Nomination Committee at the close of the Annual General Meeting in November 2019 and Ricardo is pleased to announce, following recommendation from the Nomination Committee, that Laurie Bowen will succeed him in this role.
Following Peter Gilchrist's planned retirement, Ricardo is pleased to announce, following recommendation from the Nomination Committee, that Malin Persson will become Senior Independent Director at the close of the Annual General Meeting in November 2019.
Contact: Patricia Ryan Company Secretary Telephone: 01273 794776