Last checked at 12 Oct 2020 10:00
12th October 2020
BOARD CHANGE
Spirax-Sarco Engineering plc, the world leader in thermal energy management, peristaltic pumping and associated fluid path technologies, announces that Neil Daws, Managing Director, Steam Specialties and Executive Director, has informed the Board that he wishes to retire after over 42 years of service. Neil will retire from the Steam Specialties business and the Board on 31st December 2020.
Neil joined the Group in September 1978 as an Apprentice and during his early career held positions in production and design engineering, including Product Director in 1996, prior to being named as UK Supply Director in 2003. Subsequently, Neil held the position of Director for most of the Divisions of the Steam Specialties business, including Asia Pacific, Latin America and Global Supply Chain, when he was also responsible for the Group's Health, Safety and Environmental matters. In 2013, Neil became Divisional Director for Europe, Middle East and Africa before being promoted to Managing Director of the Steam Specialties business in September 2018. Neil was appointed to the Spirax-Sarco Engineering plc Board in 2003.
The internal selection process for the next Managing Director of Steam Specialties is progressing well. Following the appointment, there will be a handover period between Neil and his successor to achieve an orderly transition for the business. Neil's successor will not become an Executive Director of the Board.
The Board is progressing the search for a new independent Non-Executive Director. Following Neil's retirement and this new appointment, the only Executive Directors on the Board will be the Group Chief Executive and the Chief Financial Officer.
Commenting on Neil's retirement, Jamie Pike, Chair, said:
"On behalf of the shareholders, the Board acknowledges with much gratitude the significant contribution to the Group's growth and prosperity made by the Steam Specialties business under Neil's leadership in many diverse and important roles. We understand Neil's wish to step down from a full time executive role and retire after such a long and successful period of service."
Nicholas Anderson, Group Chief Executive, said:
"During his time with the Group, Neil has made unparalleled contributions to its successful geographic expansion, market penetration, performance improvement, culture and strategy earning him the highest respect from the Board and all his colleagues. We are all very grateful to Neil and wish him the very best in the next chapter of his life."
Enquiries:
Nicholas Anderson, Group Chief Executive
Nimesh Patel, Chief Financial Officer
Tel: 01242 535234
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 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 7,800 people, of whom close to 1,800 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 and the FTSE4Good indices.
Further information can be found at www.spiraxsarcoengineering.com
RNS filter: Inside information prior to release
LEI 213800WFVZQMHOZP2W17