Morgan Advanced Materials PLC Appointment of Chair Designate (0449N)
January 18 2023 - 2:00AM
UK Regulatory
TIDMMGAM
RNS Number : 0449N
Morgan Advanced Materials PLC
18 January 2023
18 January 2023
MORGAN ADVANCED MATERIALS PLC
Appointment of Chair Designate and Non-Executive Director
Morgan Advanced Materials plc ("Morgan"; "Company"), the global
manufacturer of advanced carbon and ceramic materials for complex
and technologically demanding applications, announces today the
appointment of Ian Marchant as a director and Chair designate. Ian
will join the Board as a Non-Executive Director on 1 February 2023
and will succeed Douglas Caster as the Company's Chair after the
Company's 2023 AGM, subject to shareholder approval; at which point
Douglas will stand down as a director of the Company.
Ian is a highly strategic and successful leader with more than
35 years of wide-ranging experience at major businesses, bringing a
strong track record of value creation and listed board experience .
Ian served as Chief Executive of SSE plc from October 2002 to June
2013; prior to this he was the Finance Director of SSE and Southern
Electric plc. He is a seasoned non-executive director and chair,
having served as Chair of John Wood Group plc and on the Board of
Aggreko plc. He currently serves as Chair of Thames Water Utilities
Ltd and Logan Energy Ltd.
Commenting on the appointment, Laurence Mulliez, Senior
Independent Director , said:
"We are extremely pleased to have secured a Chair of Ian's
calibre. After a comprehensive search process, Ian was the
stand-out candidate, chosen by the Board due to his exceptional
experience, his insightful and strategic leadership and his
valuable commercial expertise.
Ian's appointment will enable a smooth transition ahead of
Douglas completing his nine-year tenure on the Board. On behalf of
the Board, I would like to thank Douglas for the outstanding
contribution he has made to Morgan. He has successfully guided the
business through many challenges and successes. We wish him well
for the future."
Ian Marchant, Chair designate, commented:
"I am delighted to join Morgan at such an important time for the
business. The Company has a clear strategy rooted in its purpose to
use advanced materials to make the world more sustainable and to
improve the quality of life. The business has been transformed in
recent years. I am greatly looking forward to working with Pete and
his executive team to build on everything Morgan has achieved to
date and to create value for all of its stakeholders through the
execution of the strategy."
Douglas Caster, Chair said:
"It has been a privilege to work with so many talented
colleagues at Morgan for nearly nine years, as we repositioned the
Group into the leading global manufacturer of advanced carbon and
ceramic advanced materials. I have every confidence that the Group
has the capabilities to continue to lead and grow in its markets in
the years ahead. I wish Ian every success."
For further enquiries:
Pete Raby Morgan Advanced Materials plc 01753 859 211
Richard Armitage
Nina Coad Brunswick 0207 404 5959
Notes:
1. Ian Marchant will become a member of the Nomination Committee
on 1 February 2023 and will become Chair of the Nomination
Committee at the conclusion of the 2023 AGM.
2. For the purpose of Listing Rule 9.6.13(R), Ian was a
non-executive director of Aggreko plc from November 2013 to August
2021 and non-executive director of John Wood Group plc from May
2006 and Chair from March 2014 to September 2019. Ian joined the
board of Thames Water Utilities Ltd in November 2017 and became
Chair in January 2018. There is no further information to be
disclosed pursuant to Listing Rule 9.6.13(R).
3. The Directors have determined that upon appointment he will
be independent.
4. Ian will receive the following fees in line with the
Company's Remuneration Policy:
-- annual fee as a Non-Executive Director of GBP54,820 pro-rata.
-- all-inclusive annual fee on appointment as Chair of GBP210,000.
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END
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