Appointment of Finance Director Designate

RNS Number : 6344G

Zotefoams PLC

24 November 2015

 



24 November 2015

Zotefoams plc

("Zotefoams" or "the Company")

Appointment of Finance Director Designate

Zotefoams plc, a world leader in cellular material technology, is pleased to announce the appointment of Gary McGrath to its Board as Finance Director Designate, effective 1 December 2015.  As announced in May 2015, Clifford Hurst, our Finance Director for the last 15 years, indicated his intention to retire during 2016 and this appointment will allow a well-managed transition of responsibilities through our budgeting process and financial year-end.

Initially, Gary will be appointed to the Board and will work closely with Clifford to achieve a formal handover of the role of Finance Director during the first quarter of 2016.  Clifford will retire from the Board and the Company in advance of the AGM in May 2016.

Gary qualified as a Chartered Accountant with Arthur Andersen and spent 11 years at RMC Group plc before joining Koch Industries Inc., where he spent seven years in various positions, including Global Finance Director of INVISTA Apparel and EMEA Vice President Finance, Planning & Analysis at Georgia Pacific, both Koch subsidiary companies.  Most recently, Gary was Chief Financial Officer of G C Aesthetics Limited.  Gary has worked across public, private and private equity environments in the UK, Belgium, Germany, the USA and the Republic of Ireland.

David Stirling, Group CEO of Zotefoams, comments: "On behalf of the Board, we are delighted that Gary will be joining the Company.  His considerable financial and international experience will be of great benefit to Zotefoams as we continue to develop our global presence and we look forward to working with him. 

"We would also like to thank Clifford for his invaluable contribution to the Company during his tenure.  Clifford has supported Zotefoams through a period of significant growth, development and investment and we wish him well in his retirement."

Neither Gary McGrath nor his connected persons currently hold any shares in Zotefoams plc.

The Company confirms that there are no further details required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Mr McGrath.

Enquiries:
Zotefoams plc	Tel: [phone]
David Stirling, Group CEO
Clifford Hurst, Finance Director
FTI Consulting	Tel: [phone]
Victoria Foster Mitchell / Simon Conway

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular material technology.  Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces lightweight foams in Croydon, UK and Kentucky, USA for diverse markets worldwide through its global sales force.  Zotefoams also owns and licenses patented MuCell® microcellular foam technology from a base in Massachusetts, USA to customers worldwide and sells T-Tubes® advanced insulation systems made from its patented ZOTEK® fluoropolymer foams.

www.zotefoams.com

ZOTEK® is a registered trademark of Zotefoams plc.  MuCell® is a registered trademark of Trexel Inc. T-Tubes® is a registered trademark of UFP Technologies Inc.

 

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