Diploma PLC Directorate Change (8830R)
September 27 2017 - 2:01AM
UK Regulatory
TIDMDPLM
RNS Number : 8830R
Diploma PLC
27 September 2017
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
27 September 2017
DIPLOMA PLC
RETIREMENT OF CHIEF EXECUTIVE OFFICER
Diploma PLC, the international group of businesses
supplying specialised technical products and services,
today announces that Bruce Thompson has informed
the Board that he plans to retire as Chief Executive
Officer before the end of September 2018. The
notice given ensures that there is sufficient
time to allow a thorough search process to take
place and a smooth transition of responsibilities.
Bruce Thompson joined the Group in 1994 as Group
Director of Diploma's Electronics Division. He
was appointed Chief Executive Officer in 1996
and led a major restructuring of the Group, divesting
the three traditional core businesses, returning
cash to shareholders and re-focusing the Group.
Since emerging from this restructuring in the
early 2000's, the Group has followed a consistent
strategy, building larger, broader based businesses
in its chosen sectors by combining steady GDP-plus
organic growth compounded by carefully selected
value-enhancing acquisitions. Over the last 15
years, the Group has delivered strong double-digit
growth in earnings, dividends and share price
and has grown market capitalisation from ca. GBP60m
to ca. GBP1.2bn.
John Nicholas, Chairman of Diploma PLC, commented:
"Bruce has been an outstanding leader of Diploma
PLC during his 21 years as Chief Executive. The
Group has gone from strength to strength under
his careful stewardship and Bruce will continue
to provide strong leadership for the Group over
the coming financial year, as the Group manages
the transition to new leadership, while continuing
to deliver its consistent strategy."
Bruce Thompson said: "I am very confident that
I will be leaving the Group with a clearly defined
and sustainable strategy with a substantial runway
for further growth. I am also very pleased that
the Group has in place a strong and experienced
senior management team to deliver this strategy
under the Group's future leadership."
1. A copy of this Statement, together with further
information about Diploma PLC, may be viewed on
its website at www.diplomaplc.com
+44 (0)20 7549
Diploma PLC - 5700
John Nicholas, Chairman
Anthony Gallagher, Group
Company Secretary
+44 (0)20 7353
Tulchan Communications - 4200
Martin Robinson
David Allchurch
NOTE TO EDITORS:
Diploma PLC is an international group of businesses
supplying specialised technical products and services
to the Life Sciences, Seals and Controls industries.
Diploma's businesses are focussed on supplying
essential products and services which are funded
by the customers' operating rather than their
capital budgets, providing recurring income and
stable revenue growth.
Our businesses then design their individual business
models to closely meet the requirements of their
customers, offering a blend of high quality customer
service, deep technical support and value adding
activities. By supplying essential solutions,
not just products, we build strong long term relationships
with our customers and suppliers, which support
attractive and sustainable margins.
Finally we encourage an entrepreneurial culture
in our businesses through our decentralised management
structure. We want our managers to feel that they
have the freedom to run their own businesses,
while being able to draw on the support and resources
of a larger group. These essential values ensure
that decisions are made close to the customer
and that the businesses are agile and responsive
to changes in the market and the competitive environment.
The Group employs ca. 1,700 employees and its
principal operating businesses are located in
the UK, Northern Europe, North America and Australia.
Over the last ten years, the Group has grown adjusted
earnings per share at an average of ca. 13% p.a.
through a combination of organic growth and acquisitions.
Diploma is a member of the FTSE 250 with a market
capitalisation of ca. GBP1.2bn.
Further information on Diploma PLC can be found
at www.diplomaplc.com
LEI: 2138000G17VY8FGR19
This information is provided by RNS
The company news service from the London Stock Exchange
END
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