Last checked at 11 Mar 2020 07:05
News Release
11th March 2020
Board Change
Spirax-Sarco Engineering plc, the world leader in thermal energy management, peristaltic pumping and associated fluid path technologies, announces that Kevin Boyd, Chief Financial Officer and Executive Director, has informed the Board of his desire and intention to retire from the Group before the end of 2020, following an orderly handover of his duties to a successor.
The Board has initiated a process to search for a suitable external candidate to succeed Kevin and will make a further announcement concerning the appointment of a new Chief Financial Officer once that process has been completed.
Commenting on Kevin's retirement, Jamie Pike, Board Chair, said:
"On behalf of the shareholders, the Board acknowledges with gratitude the significant contribution to the Group's growth and prosperity made by Kevin and we wish him a happy and healthy retirement. We understand his wish to leave the executive world behind, dedicate more time to other personal projects and pursue a non-executive career."
Nicholas Anderson, Group Chief Executive, said:
"During his four years with the Group, Kevin's knowledge and experience has been instrumental in helping me guide the business through significant challenges and in our pursuit of continuous growth and prosperity for all our stakeholders. I am personally very grateful for his support and contributions, which have earned him the highest respect from shareholders, the Board and colleagues. We all thank him and wish him the very best in the next chapter of his life."
Kevin Boyd, Chief Financial Officer, stated:
"It has been a pleasure and a privilege to have been a part of such a successful company. When my predecessor retired, he described Spirax as a "unique company". At the time, I thought this might be an over exaggeration, now I'm not so sure. I would like to thank Nick and the team for their support and to wish them every success as they continue to navigate the company on its remarkable growth story. I look forward to working with my successor on a smooth transition."
Enquiries:
Jamie Pike, Chair
Nicholas Anderson, Group Chief Executive
Tel: 01242 535234
Citigate Dewe Rogerson
Toby Mountford
Tel: 0207 638 9571 / 07710 356611
About Spirax‐Sarco Engineering plc
Spirax‐Sarco Engineering plc is a thermal energy management and niche pumping specialist. It comprises three world‐leading businesses: Steam Specialties, for the control and management of steam; Electric Thermal Solutions, for advanced electrical process heating and temperature management solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies. The Steam Specialties and Electric Thermal Solutions businesses provide a broad range of fluid control and electrical process heating products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers. Both businesses help their end users to improve production efficiency, meet their environmental sustainability targets, improve product quality and enhance the safety of their operations. Watson‐Marlow Fluid Technology Group provides solutions for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance free pumps and associated technologies.
The Group is headquartered in Cheltenham, UK, has strategically located manufacturing plants around the world and employs over 8,000 people, of whom over 1,600 are direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and it is a constituent of the FTSE 100 Index.
Further information can be found at www.spiraxsarcoengineering.com
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