Last checked at 9 Jan 2017 07:00
9 January 2017
Renold plc
("Renold", "the Company" or "the Group")
Appointment of Non-Executive Director
Renold, a leading international supplier of industrial chains and related power transmission products, is pleased to announce the appointment of David Landless to the board as a Non-Executive Director with effect from 9 January 2017.
David has significant experience at senior levels of international businesses in the industrials sector. He was most recently Group Finance Director of Bodycote plc from 1999 until his retirement on 1 January 2017. Prior to that, he was at Courtaulds for 15 years in a range of finance roles in the UK and US, latterly as Finance Director of Courtaulds Coatings (Holdings) Ltd, from 1997 to 1999. David is currently a Non-Executive Director of Luxfer Holdings plc and Innospec Inc.
David's appointment forms a part of Renold's orderly succession planning process for Board members which was outlined in the Nomination Committee Report included in the 2016 Annual Report and Accounts. David will become Chairman of the Audit Committee on completion of the Group's AGM on 19 July 2017 succeeding John Allkins who will step down after nine years in the role. John will continue as a Non-Executive Director until the conclusion of the 2018 AGM, facilitating a valuable handover period to David.
Mark Harper, Chairman of Renold plc commented:
"I am delighted to welcome David to the Group. His recent experience of international industrial multi-site businesses makes him a great fit for Renold as we continue to implement our STEP 2020 plan.
"I also want to thank John for his rigour and tireless commitment over many years as Audit Committee Chairman and am pleased that he will remain a part of the Board until the middle of next year."
There are no further matters to be disclosed pursuant to paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.
ENQUIRIES:
Renold plc | 0161 498 4500 |
Robert Purcell, Chief Executive |
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Ian Scapens, Finance Director |
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Arden Partners | 020 7614 5917 |
Chris Hardie |
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Instinctif Partners | 020 7457 2020 |
Mark Garraway |
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Helen Tarbet Rosie Driscoll |
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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