Directorate Change

RNS Number : 1971N

Coats Group PLC

18 May 2020

 

18 May 2020

Coats Group plc

Appointment of Non-Executive Director

Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, announces that Jakob Sigurdsson will join the Board as a Non-Executive Director, effective 1 October 2020.  In addition, he will join the Audit and Risk Committee and the Nomination Committee.

Jakob is currently Chief Executive Officer of Victrex plc, an innovative world leader in high-performance polymer solutions.  He has held the role since October 2017.

Jakob has more than 20 years' experience in large multinational companies, both listed and private, including nine years with Rohm & Haas (now part of Dow Chemical) in the US, as well as Chief Executive of food manufacturer Alfesca in Europe and Chief Executive of Promens.

Between September 2016 and June 2017, Jakob was Chief Executive Officer of VÍS, the largest Icelandic insurance and re-insurance company.  He has held various non-executive roles and was a Member of the University of Iceland Council and a non-executive director of the Icelandic Technology and Development Board.

Mike Clasper, Chairman, said: 'I am delighted that Jakob will be joining the Coats Board.  He has in-depth industry knowledge and understanding of our Performance Materials end-markets so will be able to provide additional specialist insight.  He is also an experienced non-executive director.  I look forward to working with him.'

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

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Enquiry details
Investors	Rob Mann	Coats Group plc	[phone]
Media	Richard Mountain / Nick Hasell	FTI Consulting	[phone]

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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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