Senior PLC Directorate Change (3426B)
January 06 2015 - 2:00AM
UK Regulatory
TIDMSNR
RNS Number : 3426B
Senior PLC
06 January 2015
6 January 2015
Appointment of Chief Executive
Senior plc ("Senior" or "the Group") is pleased to announce the
appointment of David Squires as Group Chief Executive. David will
succeed Mark Rollins who, as previously announced, will be retiring
from a full-time executive career after 17 years with the
Group.
David joins Senior from Cobham plc ("Cobham"), where he is
currently its Chief Operating Officer. David will join Senior and
the Board on 1 May 2015 as Group Chief Executive-designate before
taking over as Group Chief Executive on 1 June 2015 when Mark
Rollins leaves the Group.
The appointment follows a comprehensive search process, which
considered both internal and external candidates and was led by the
Chairman on behalf of the Board.
No further information is required to be disclosed pursuant to
Listing Rule 9.6.13R in respect of David Squires.
Senior's Chairman, Charles Berry, commented:
"I am delighted to be able to announce the appointment of David
Squires as Senior's new Group Chief Executive. David clearly has
the depth and breadth of experience, and the personality and drive
to lead Senior through the next stage of its development. I am
confident that Senior will continue to make strong progress under
his leadership. In particular, his 25 years of experience in the
global aerospace and defence industry, working in both developing
and larger organisations, will be a significant benefit to Senior
as it grows and increases its profile with its customers."
"Mark Rollins has made an enormous contribution to Senior in a
career spanning 17 years, including 15 years on the Board,
initially as Group Finance Director and then, for the past seven
years, as Group Chief Executive. In this time, Senior has been
transformed from a lowly-rated, industrial conglomerate to a
quality global engineering business, focused on the aerospace,
defence, land-vehicle and energy markets. The Group's financial
performance and market capitalisation have increased significantly
during this period and Mark leaves the Group in good health, with
encouraging prospects for continued, long-term growth. Accordingly,
on behalf of the Board, I would like to thank him for his dedicated
and successful service throughout his Senior career and to wish him
all the very best for a long and fulfilling retirement."
David Squires said:
"Senior is an impressive business with a reputation for
operational excellence, customer focus, talented people and the
transparency of its internal and external communications. I am
greatly looking forward to building on these strong foundations and
working with all of the Group's employees to take the business
forward through the next phase of its development for the benefit
of customers, shareholders and employees alike."
Enquiries:
Charles Berry Chairman, Senior plc +44 (0) 1923 714 702
Group Chief Executive, Senior
Mark Rollins plc +44 (0) 1923 714 738
Bindi Foyle Head of Investor Relations +44 (0) 1923 714 725
Philip Walters RLM Finsbury +44 (0) 20 7251 3801
Note to editors:
David Squires
David Squires, age 51, is currently the Chief Operating Officer
for Cobham plc. Cobham is a GBP2 billion revenue group providing
products and services to the defence, security and commercial
aerospace markets. Prior to this role David held the position as
President of its Mission Systems Division for five years, in which
capacity he was responsible for Cobham's Mission Equipment, Life
Support and Aviation Services businesses. He has extensive and
varied experience of the global aerospace and defence markets,
having been employed in the industry for some 25 years at major
global companies such as Eaton Corporation, BAE Systems,
GEC-Marconi and the Hughes Aircraft Company as well as at Cobham.
David, born in Scotland, holds a BA in Business Management from
Robert Gordon University in Aberdeen, is a Fellow of the Chartered
Institute of Purchasing and Supply and a Fellow of the Royal
Aeronautical Society. Neither David Squires nor any connected
person holds any interest in the shares of Senior plc.
On appointment, David Squires will receive a basic annual salary
of GBP460,000, with pension and benefit provision in line with the
Company's approved remuneration policy. In addition, and also
consistent with the remuneration policy, he will participate in
Senior's annual bonus and long-term incentive plans and the value
of incentive awards that David Squires will forfeit upon leaving
his current employer will be compensated. Full details will be
provided in the Company's Annual Report and Accounts 2014.
Senior plc
Senior is an international manufacturing group with operations
in 14 countries and 7,500 employees. It is listed on the main
market of the London Stock Exchange (symbol SNR). Senior designs,
manufactures and markets high technology components and systems for
the principal original equipment producers in the worldwide
aerospace, defence, land-vehicle and energy markets. Further
information on Senior plc may be found at: www.seniorplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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