Last checked at 20 Nov 2020 07:00
Renold plc
("Renold", the "Company" or the "Group")
Appointment of Non-Executive Director
20 November 2020
Renold, a leading international supplier of industrial chains and related power transmission products, is pleased to announce the appointment of Andrew Magson to the Board as a Non-Executive Director with effect from 1 December 2020. Andrew will also be appointed to the Audit, Remuneration and Nomination Committees.
Andrew, aged 54, has significant experience in senior finance roles in multinational manufacturing businesses, most recently at The Alumasc Group plc where he was the Chief Financial Officer from 2006 to 2020. He qualified as a Chartered Accountant in 1992 with PwC before moving into industry at BPB Plc, where he became Group Financial Controller.
Andrew's appointment forms part of Renold's succession planning process for the Board. As previously announced, it is intended, that following Mark Harper's resignation as Chairman of the Company after the 2021 Annual General Meeting, David Landless will step down as Chair of Audit Committee to take up the post of Chairman of the Company. Subject to his re-election at the 2021 AGM, it is proposed that Andrew will then be appointed Chairman of the Audit Committee.
Mark Harper, Chairman of Renold plc commented:
"I am delighted to welcome Andrew to the Group and pleased that the Board succession plan is progressing smoothly. He has highly relevant manufacturing sector and board level financial experience, including pension scheme management, and he will be an invaluable addition to the Renold Board."
ENQUIRIES:
Renold plc | 0161 498 4500 |
Robert Purcell, Chief Executive | |
Jim Haughey, Group Finance Director | |
Peel Hunt | 0207 418 8831 |
Mike Bell Ed Allsopp | |
Instinctif Partners | 0207 457 2020 |
Mark Garraway | |
Rosie Driscoll |
Disclosures required by Schedule Two, paragraph (g) of the AIM Rules for Companies:
Current directorships | Directorships held in the last five years |
None | Alumasc Building Products Limited Alumasc DD Limited Alumasc Dispense Limited Alumasc Interior Building Products Limited Alumasc Limited Alumasc Precision Limited Benjamin Priest Limited Blackdown Horticultural Consultants Limited Doranda Limited Elkington Gatic Limited Levolux A.T. Limited Levolux Limited Roof-Pro Limited Scaffold & Construction Products Limited Sure-Foot Supports Limited The Alumasc Group plc The Green Building Products Company Limited Timloc Building Products Limited Wade Drainage Products LTD Wade International (UK) Limited Wade International Limited |
Save as set out above, there are no further disclosures required pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.
NOTES FOR EDITORS
Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well-deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.
Further information about Renold can be found on the website at: www.renold.com