Last checked at 12 Sep 2023 07:00
12 September 2023
Rotork Plc ('Rotork')
Directorate Change - CFO Transition
Rotork plc, the global provider of mission-critical intelligent flow control solutions, announces that Jonathan Davis, Group Finance Director since 2010, has advised the Board that he will be retiring after 21 years with the Company. The Board has appointed Ben Peacock as Chief Financial Officer to succeed Jonathan. Ben is currently Vice President, Finance & IT - Minerals Division, at The Weir Group PLC.
Ben's start date is being finalised. It is expected that he will join as CFO during Q1 2024. Jonathan will continue in his current role until Ben joins. He will step down from the Board on 30 April 2024 but will remain with the Company to support the transition. A further update will be provided once Ben's start date is known.
Kiet Huynh, Chief Executive Officer, commented: "I want to thank Jonathan for the very significant contribution he has made to Rotork over the past 21 years and to personally thank him for the support he has given me in my time as CEO. On behalf of the Board and all our colleagues we wish Jonathan all the very best in his retirement. I am delighted that we have appointed Ben as CFO. Ben brings with him industry knowledge as well as a strong track record of finance expertise within complex businesses. I am confident he will make a strong contribution to the senior management team and to the business. I look forward to working with him to deliver our Growth+ strategy."
Ben Peacock said: "The clear purpose and strategy at Rotork is an exciting journey that I am delighted to become part of. I have spent my most recent career in industrial and flow control sectors, including the last 9 years at The Weir Group PLC. I look forward to working with Kiet and the team to drive and deliver Rotork's Growth+ strategy".
Jonathan Davis said: "It has been a privilege to be part of the Rotork team for the last 21 years and I would like to thank all my colleagues and friends throughout that time for their dedication and support. I am extremely proud of all that we have achieved over these years and believe that the Company is well placed under Kiet's leadership to deliver the Growth+ strategy. I wish Rotork every success for the future and look forward to welcoming Ben to Rotork and working with him until my departure later next year."
There is no information which requires disclosure in accordance with LR 9.6.13 (1) to (6).
Enquiries:
| |
FTI Consulting
| |
Nick Hasell/Susanne Yule | Tel: + 44 (0)20 3727 1340 |
Rotork plc
| |
Andrew Carter, Investor Relations Director
| Tel: +44 (0)1225 733 200 |
Notes:
Ben Peacock is Vice President of Finance & IT at The Weir Group PLC's largest division, Minerals. He joined Weir as Group Treasurer and Head of Insurance & Pensions in 2014 and then became Divisional Finance Director, Flow Control Division, before being promoted to his current role in 2018. Prior to joining Weir, he held finance roles in Vodafone Group plc and Intel Corporation. Ben is CIMA qualified and has a BA in Business Finance.
The remuneration payable to both Ben Peacock and Jonathan Davis will be in accordance with Rotork's remuneration policy.
Legal Entity Identifier: 213800AH5RZIHGWRJ718