Coats Group PLC New Chairman appointment (2461G)
November 24 2020 - 2:00AM
UK Regulatory
TIDMCOA
RNS Number : 2461G
Coats Group PLC
24 November 2020
24 November 2020
Coats Group plc
New Chairman appointment
Coats Group plc ('Coats,' the 'Company' or the 'Group'), the
world's leading industrial thread manufacturer, announces that Mike
Clasper has advised the Board that he will retire as Chairman and
from the Board of Coats, at the conclusion of the Annual General
Meeting scheduled for 19 May 2021, after nearly eight years year
with the Company. Mike will be succeeded as Chairman by David
Gosnell who is currently an Independent Non-Executive Director of
Coats.
David joined the Coats Board in 2015. He was formerly Chairman
of Old Bushmills Distillery Company Ltd and a Non-Executive
Director of Brambles Ltd. David retired from Diageo plc in 2014
where he had most recently held the role of President of Global
Supply and Procurement.
Mike Clasper, said: 'I am privileged to have chaired Coats, a
company with over 250 years of rich heritage and a deeply embedded
positive and strong culture. It has been a time of unprecedented
corporate transformation including the merger of the Guinness Peat
Group and Coats plc Boards, delisting from the Australian and New
Zealand Stock Exchanges, re-listing on the London Stock Exchange
and entry to the FTSE 250 as well as the recommencement of our
acquisition programme. David is an ideal successor to continue the
positive momentum we have created and I am confident he will be an
excellent Chairman.'
Rajiv Sharma, Chief Executive, said: 'On behalf of the Board I
would like to thank Mike for his outstanding contribution as
Chairman. His drive, determination and resilience have been an
integral part of our transformation success. We all wish him well
for the future. I look forward to continue working with David and
building on the strong legacy that Mike will be leaving.'
David succeeds Mike as Chairman of the Nomination Committee with
immediate effect.
David will step down as Chair of the Remuneration Committee with
effect from a date that will be announced in due course.
This announcement is made pursuant to LR 9.6.11R(3) of the
Listing Rules.
Enquiry details
Coats Group +44 (0)20 8210
Investors Rob Mann plc 5175
Richard Mountain / Nick +44 (0)20 3727
Media Hasell FTI Consulting 1374
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About Coats Group plc
Coats is the world's leading industrial thread company. At home
in some 50 countries, Coats has a workforce of 17,000 people across
six continents. Revenues in 2019 were US$1.4bn. Coats' pioneering
history and innovative culture ensure the company continues leading
the way around the world. It provides complementary and value added
products, services and software solutions to the apparel and
footwear industries. It applies innovative techniques to develop
high technology Performance Materials threads, yarns and fabrics in
areas such as Transportation, Telecommunications and Energy, and
Personal Protection. Headquartered in the UK, Coats is a FTSE 250
company, a constituent of the FTSE4Good Index Series and a
participant in the UN Global Compact. To find out more about Coats
visit www.coats.com .
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END
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