Directorate Change

RNS Number : 1617B

Coats Group PLC

08 January 2018

 

8 January 2018

Coats Group plc

Appointment of Non-Executive Director

Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, announces that Anne Fahy will join the Board as a Non-Executive Director, effective 1 March 2018.  In addition, she will join the Audit and Risk Committee and the Nomination Committee.

Anne spent over 25 years at BP Plc where she held a series of roles, including Chief Financial Officer of its Aviation Fuels business.  She has extensive experience of global business, developing markets and internal control, as well as strategy development in BP's aviation, petrochemicals, trading and retail sectors.

Anne is also a Non-Executive Director of Interserve, the international support services and construction company; SThree, a global staffing organisation providing specialist recruitment services in the STEM industries; and Nyrstar, a global multi-metals business, with a market leading position in zinc and lead.  She is also a Trustee of Save the Children.

Mike Clasper, Chairman, said: 'I am delighted that Anne will be joining the Coats Board.  She is a very experienced Non-Executive Director with in-depth knowledge of the full range of audit matters and internal controls, as well as wider strategy development.  I look forward to working with her.'

Anne started her career with KPMG Ireland before moving to KPMG Australia.  She is a Fellow of the Institute of Chartered Accountants in Ireland and has a Bachelor of Commerce in Economics, Accounting and Business from University College Galway, Ireland.

Ruth Anderson, Non-Executive Director and currently Chairman of the Audit and Risk Committee, will not be standing for re-election as a Director at the 2018 AGM, to be held on Wednesday 16 May 2018.  Anne will become Chairman of the Audit and Risk Committee on that date.

Mike Clasper, Chairman, said: 'I would like to thank Ruth for her insightful guidance and contribution to the Board over a number of years.  Ruth has played a key part in steering significant change both to the Audit and Risk Committee, and also to the broader Group, as we restructured the Guinness Peat Group and Coats plc Boards, transitioned from an investment holding company to a UK headquartered manufacturing business, acquired several companies and entered the FTSE 250.  I have greatly appreciated Ruth's support and wisdom on this very exciting transformation of Coats.' 

No further information is required to be disclosed pursuant to Listing Rule 9.6.13.

Enquiry details

UK media                                  Richard Mountain / Nick Hasell               [phone]

Investors                                   Rob Mann                                             [phone]

This announcement contains inside information for the purposes of the Market Abuse Regulation.

About Coats Group plc

Coats is the world's leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in some 60 countries, Coats employs over 19,000 people across six continents. Revenues in 2016 were US$1.5bn. Coats' pioneering history and innovative culture ensure the company continues leading the way around the world, providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Performance Material threads and yarns in areas such as automotive composites and fibre optics; and extending the crafts offer into new markets and online. Headquartered in the UK, Coats is a FTSE 250 listed company on the London Stock Exchange. To find out more about Coats visit www.coats.com.

 

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