Directorate Change

RNS Number : 6456I

Chemring Group PLC

27 July 2012

 



FOR IMMEDIATE RELEASE                                                                      27 JULY 2012

CHEMRING GROUP PLC

APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER

Chemring Group PLC ("Chemring" or "the Group") today announces the appointment of Nigel Young as its Interim Chief Financial Officer. Nigel starts with immediate effect and replaces Paul Rayner who will step down on 31 July 2012.

Nigel (59) has considerable experience within both the defence and manufacturing industries. He was finance director of United Scientific Holdings PLC (subsequently ALVIS PLC), First Technology PLC and Babcock International PLC. More recently, he was Group Finance Director of the FTSE 250 company, Morgan Crucible Company plc, until he retired in 2004. Since then Nigel has undertaken a number of charitable, interim and consultancy roles, including the UK Atomic Energy Authority and McBride PLC.

The process of selecting a permanent candidate for the role of Chief Financial Officer is ongoing, and the Group will make a further announcement in due course.

As Nigel will not be appointed to the Chemring Board, there are no disclosures required to be made in accordance with LR 9.6.13R of the Listing Rules of the UK Listing Authority.

For further information:

Rupert Pittman	Director of Communications and Investor Relations, Chemring Group PLC	01489 881880
Emma Crawshaw	Cardew Group	020 7930 0777

Notes to Editors:

• Chemring is a manufacturing business with facilities in eight countries selling high technology electronics and energetic products to over eighty countries worldwide.

• The Company has a diverse portfolio of products protecting military people and platforms against a constantly changing threat.

• Operating in high margin, niche markets with short product development timescales, Chemring has the agility to rapidly react to urgent customer needs.

• Chemring adopts a balanced strategy of organic growth and small bolt-on acquisitions, and maintains balanced geographic and market profiles, with a growing presence in non-NATO countries.

• Strong R&D investment for new products and improvements in technology continually allows Chemring to expand its addressable markets.

www.chemring.co.uk

 

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