Appointment of new Chief Financial Officer

RNS Number : 5964P

Essentra plc

30 May 2018

 

ESSENTRA PLC

APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Essentra today announces the appointment of Lily Liu as Chief Financial Officer, with effect from 15 November 2018.

The Board of Essentra plc ("Essentra" or "the Company") today announces the appointment of Lily Liu to the Board with effect from 15 November, to succeed Stefan Schellinger as Chief Financial Officer.  Stefan will retire from the Board on 15 November 2018 and leave Essentra on 30 November 2018.

Lily brings nearly 20 years of experience in the manufacturing and engineering sectors most recently as Chief Financial Officer, Xaar Plc Group, a FTSE listed inkjet technology developer and manufacturer of industrial inkjet printheads, before which she was Chief Financial Officer, Smiths Detection at Smiths Group Plc.  Lily began her career with a Chinese investment firm before emigrating to Australia to complete an MBA, and she has worked across three continents (Asia, Europe and Australia).

Commenting on today's announcement, Paul Forman, Chief Executive, said:

"Lily will be a huge asset to Essentra's team and I am delighted she has decided to join us as Chief Financial Officer.  She brings a proven track record of international experience in our sectors which, together with her strong people focus, are a good match for us as we continue to restore Essentra to sustainable, profitable growth.  I would also like to take this opportunity to thank Stefan for his immense contribution and commitment to the Company, and to wish him every success in the future."

Lily Liu added:

"It is a real privilege to be joining Essentra at an exciting point in the Company's journey.  I am looking forward to working with Paul Forman and the team to build on the success which Essentra has achieved to date, with a view to delivering sustainable long-term shareholder value." 

Lily Liu has advised the Company that no other details are required to be disclosed under Listing Rule 9.6.13.

Enquiries

Essentra plc Joanna Speed, Investor Relations Director Lucy Yank, Group Communications Director Tel: [phone]

Ogilvy PR London Sarah Edwards Tel: [phone] E-mail: [e-mail]

Notes to Editors

About Essentra plc

Essentra plc is a FTSE 250 company and a leading global provider of essential components and solutions.  Organised into four divisions from the start of 2018 - reflecting the Company's strategic review - Essentra focuses on the light manufacture and distribution of high volume, enabling components which serve customers in a wide variety of end-markets and geographies.

Essentra Components

Essentra Components is a global market leading manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal items.  Operating in 27 countries worldwide, nine manufacturing facilities and 24 logistics centres serve more than 90,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics and construction.

Essentra Packaging

Essentra Packaging is one of only two multi-continental suppliers of a full secondary packaging range to the health and personal care sectors, with 25 facilities across four geographic regions.  The division's innovative products include cartons, leaflets, self-adhesive labels and printed foils used in blister packs, which help customers to meet the rapidly-changing requirements of these end-markets and can also be combined with Essentra's authentication solutions to help the fight against counterfeiting.

Essentra Filters

Essentra Filters is the only global independent cigarette filter supplier.  The nine worldwide locations, including a dedicated Technology Centre supported by three regional development facilities, provide a flexible infrastructure strategically positioned to serve the tobacco sector.  The business supplies a wide range of value-adding high quality innovative filters, packaging solutions to the roll your own segment and analytical laboratory services for ingredient measurement to the industry: Essentra's offering also includes e-cigarette and Heat Not Burn solutions to the rapidly evolving market for Next Generation Products.

Essentra Specialist Components

Essentra Specialist Components comprises the Company's six smaller businesses.  These activities largely have strong positions in the markets in which they operate, although they have little overlap with each other or with Essentra's larger three global divisions.

The Extrusion business is a leading custom profile extruder located in The Netherlands which offers a complete design and production service.  One of the first companies to extrude plastics, Essentra is now one of Europe's most advanced suppliers of co-extrusion and tri-extrusion to all branches of industry.

The Pipe Protection Technologies business specialises in the manufacture of high performance innovative products from commodity resins to engineering-grade thermoplastics and polymer alloys, largely for use in the oil and gas industry.  Locations in four countries, combined with a wide distributor network, serve customers around the world.

The Speciality Tapes business has expertise in coating multiple adhesive systems in numerous technologies, with close to 3,000 tape products available for same-day shipping and predominantly for point of purchase and white goods applications.

The Tear Tapes business is globally recognised as the leading manufacturer and supplier of pressure-sensitive tear tapes, which are largely used in the tobacco, food and drink and specialist packaging sectors. 

The Industrial Supply business provides a wide range of branded hardware supplies to a broad base of industrial customers, largely located in the US Mid-West.

The Security business is a leading European provider of ID card printers, systems and accessories to direct and trade customers.

Headquartered in the United Kingdom, Essentra's global network extends to 33 countries and includes c. 8,000 employees, 49 principal manufacturing facilities, 66 sales & distribution operations and 4 research & development centres. For further information, please visit www.essentraplc.com.

 

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