Last checked at 2 Apr 2020 08:00
News Release
2nd April 2020
Spirax Sarco appoints next Chief Financial Officer
Spirax-Sarco Engineering plc ("Spirax Sarco" or the "Group"), the world leader in thermal energy management, peristaltic pumping and associated fluid path technologies, is pleased to announce that Nimesh Patel will join the Board as Chief Financial Officer and Executive Director.
Nimesh will join Spirax Sarco before the end of July 2020 and will succeed Kevin Boyd as Chief Financial Officer and a member of the Board following completion of the interim financial reporting process, thereby enabling an orderly handover of duties.
Nimesh is currently Chief Financial Officer of the De Beers Group, which is majority owned by Anglo American plc. He has over 22 years of experience in senior finance roles including his role with De Beers and as Group Head of Corporate Finance for Anglo American plc. Nimesh intends to relocate to Cheltenham with his family.
On 11th March 2020, Kevin Boyd announced his desire to retire from the Board and the Group. Further details regarding the completion date of their handover, Kevin's retirement date and Nimesh's compensation will be provided when Nimesh joins the Group.
Commenting on Nimesh's appointment, Jamie Pike, Board Chair, said:
"I am delighted to welcome Nimesh to Spirax Sarco. Nimesh is a dynamic and highly capable Chief Financial Officer and I look forward to working closely with him as the Group progresses."
Nicholas Anderson, Group Chief Executive, added:
"I am delighted that Nimesh has agreed to join our team and continue the important work developed by Kevin. I am certain his experience, intellect and energy will bring many contributions and I look forward to developing with Nimesh the close working relationship I enjoy with Kevin."
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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