Board of Directors and Shareholder update

ConvaTec Group PLC

08 September 2023

 

This announcement contains inside information

Board of Directors and Shareholder update

Convatec Group PLC (the 'Company') announces that it has agreed, with Novo Holdings A/S, to end the relationship agreement entered into when Novo Holdings acquired their stake in the Company. Consequently, Sten Scheibye will be stepping down from the Board.  These changes will take effect from today.

Novo Holdings said "Given the increasing momentum in Convatec's growth and margin trajectory and the high regard and confidence we have in management, we no longer feel a need to occupy a board position at the Company. As shareholders, we are very excited by the opportunity we see for further value creation by the Company."

Commenting on behalf of the Board, the Chairman John McAdam said "Sten has been a valued member of the Board over the last five years and on behalf of the Group I would like to extend our thanks for his contribution and insights. Novo Holdings remains an important shareholder in Convatec and we look forward to continuing our relationship and dialogue."

Sten Scheibye commented "I have very much enjoyed my time on Convatec's Board.  The Group has a clear strategy and strong management team.  I have no doubt that the Company will continue to make significant progress in the future."

The person responsible for making this announcement is Robyn Butler-Mason, Company Secretary.

LEI Code:	213800LS272L4FIDOH92
Contacts Analysts & Investors Kate Postans, Vice President of Investor Relations & Corporate Communications Sheebani Chothani, Investor Relations & Corporate Communications Manager [phone] [phone]                            [e-mail] Media Buchanan: Charles Ryland / Chris Lane  [phone] About Convatec Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in advanced wound care, ostomy care, continence care and infusion care. With around 10,000 colleagues, we provide our products and services in almost 100 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Group revenues in 2022 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more about Convatec, please visit http://www.convatecgroup.com

 

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