Spirax-Sarco Regulatory News (SPX)

Wednesday, 15th May 2019

Board Changes

Spirax-Sarco Engineering plc, the thermal energy management and niche pumping specialist, announces the following Board changes.

In accordance with the statement in the 2018 Annual Report that the Board was progressing the appointment of a new Chair of the Audit Committee, we are pleased to announce that Kevin Thompson will join the Board as an Independent Non-Executive Director with immediate effect. Kevin will succeed Clive Watson as Chair of the Audit Committee, following a handover of responsibilities, after the close of our Annual General Meeting today. Kevin will also be a member of the Remuneration Committee and Nomination Committee.

Clive is standing down having served as a Director and Chair of the Audit Committee for nine years, in addition to being the Senior Independent Director since 2018. Dr Trudy Schoolenberg will take over as Senior Independent Director, after the close of our Annual General Meeting today.

Kevin Thompson was Group Finance Director of Halma plc from 1998 to 2018. He qualified as a Chartered Accountant with PriceWaterhouseCoopers and is a Non-Executive Director of RPC Group plc where he chairs the Audit Committee.

Commenting on the Board Changes, Jamie Pike, Chair, said:

"On behalf of our shareholders the Board acknowledges with gratitude Clive's significant contribution to the Group's growth and prosperity over the last nine years. As Chair of the Audit Committee, Clive has been crucial in guiding the business through significant changes and challenges whilst maintaining the highest financial and governance standards.

I am delighted that Kevin Thompson has joined us. His extensive experience at a major international manufacturing and technology business will benefit our Board over the coming years as Spirax-Sarco continues to move forward. 

Trudy will, as Senior Independent Director, continue our strong relationship with our shareholders.

These appointments are part of the succession planning undertaken by the Nomination Committee to recruit and promote Non-Executive Directors with the skills and experience required to support the implementation of our strategy for growth."

Enquiries:

Andy Robson

Group General Counsel & Company Secretary

Tel: 01242 535276

About Spirax Sarco

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; Chromalox, for electrical thermal energy solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies. The Steam Specialties business and Chromalox 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 offers the ideal solution 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 7,800 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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