Genus PLC Chief Executive Officer Retirement (7632Q)
February 23 2023 - 2:00AM
UK Regulatory
TIDMGNS
RNS Number : 7632Q
Genus PLC
23 February 2023
For Immediate Release 23 February 2023
Genus plc
('Genus', or the 'Company')
Chief Executive Officer Retirement
Genus plc (LSE: GNS), a leading global animal genetics company,
announces that Stephen Wilson, Chief Executive, has infor med the
Board of his intention to retire after ten years with the Company,
the last four of which as Chief Executive Officer. Stephen has
committed to remain with Genus until 30 September 2023 in order to
achieve a smooth transition to a successor, while continuing to
drive business strategy and performance.
A formal search for Stephen's successor has been initiated with
an executive search agency and a further announcement will be made
in due course.
On behalf of the Board, Iain Ferguson, the Chairman of Genus
commented;
"During Stephen's time at Genus, including six years as Chief
Financial Officer and four years as Chief Executive, the Company
has made great strategic progress as a world-leading animal
genetics company, making great strides in its vision to sustainably
pioneer animal genetic improvement to help nourish the world.
"Stephen has overseen significant investment in the Group to
support its long term strategic growth. These contributions have
included the global launch of Sexcel, the significant strengthening
of the Group's Research and Development capabilities, the ongoing
PRRSv development programme, driving the Company's digital
transformation, energising the Company's sustainability focus,
broadening our geographic focus including growth in India and
China, and investing in best in class animal facilities around the
world. Stephen will leave the Company in excellent shape with a
world-class leadership team, world-class genetics, and a growing
innovation platform to enable the company to pursue many exciting
future opportunities. Stephen has provided the Company with many
years of strong leadership, and the Board and I remain excited by
the Company's prospects. On behalf of the Board and all at Genus, I
would like to thank Stephen for his commitment to the Company and
his significant contributions to its success ."
Stephen Wilson added "It has been a great privilege to lead such
a talented group of people and develop a leading global
agricultural biotechnology business with sustainability at the very
heart of its development activities. After four years as Chief
Executive and ten years as an executive director, I believe now is
the right time for me to move to the next phase of my life. Genus
has many strong growth opportunities, and I will remain fully
focused on the continued successful execution of our strategy while
the Board progresses the search for my successor."
Genus Tel: +44(0)1256
345970
Iain Ferguson, Chair
Alison Henriksen, Chief Financial
Officer
Buchanan Tel: +44(0)207
466 5000
Charles Ryland / Chris Lane
/ Verity Parker
This announcement is available on the Genus website
www.genusplc.com
About Genus
Genus is a world-leading animal genetics company. Genus creates
advances to animal breeding and genetic improvement by applying
biotechnology and sells added value products for livestock farming
and food producers. Its technology is applicable across livestock
species and is currently commercialised by Genus in the dairy, beef
and pork food production sectors.
Genus's worldwide sales are made in over seventy-five countries
under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs)
and comprise semen, embryos and breeding animals with superior
genetics to those animals currently in farms. Genus's customers'
animals produce offspring with greater production efficiency, and
quality, and use these to supply the global dairy and meat supply
chains.
The Group's competitive edge has been created from the ownership
and control of proprietary lines of breeding animals, the
biotechnology used to improve them and its global supply chain,
technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus
companies operate in over twenty-five countries on six continents,
with research laboratories located in Madison, Wisconsin, USA.
Regulatory Notes
Details of Stephen Wilson's terms of departure are still to be
finalised. Any such terms will be consistent with the Company's
approved Directors Remuneration Policy. Details of any payments to
be made to Stephen will be posted on the Company's website, in
accordance with section 430(2B) Companies Act 2006.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014. The person responsible for
making this announcement on behalf of the Group is Dan Hartley
(General Counsel and Company Secretary).
This announcement is made in accordance with Listing Rule
9.6.11R. There are no matters to be disclosed in connection with
Listing Rule 9.6.13R (2) - (6).
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END
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