Directorate Change

RNS Number : 9928N

Chemring Group PLC

22 June 2010

 



FOR IMMEDIATE RELEASE                                                                                              22 JUNE 2010

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

AND CHAIRMAN DESIGNATE

Chemring Group PLC ("Chemring" or the "Group") is pleased to announce that Peter Hickson will be appointed as an independent non-executive director with effect from 1 July 2010, and will succeed Ken Scobie as Chairman of the Board following his retirement on 1 October 2010.

Mr Scobie joined Chemring as Chairman in June 1997. Over the last thirteen years he has successfully led the Group through initially challenging times to full recovery. Under his leadership the Group has changed beyond recognition, growing its share price from a low of 76p to a high of over £36. The period of significant and sustained growth over the last five years in particular has established Chemring as a prominent international defence business and as a market leader in its field.

Peter Hickson has had senior management experience with a number of large international companies. He is currently Chairman of Communisis plc, Senior Independent Director of London & Continental Railways Ltd, and a non-executive director of Kazakhmys PLC. Further biographical details are set out below.

Ian Much, Senior Independent Director of Chemring, said: "On behalf of the Board I would like to thank Ken for his immeasurable guidance and commitment to Chemring over the past thirteen years. He has led the Board through a period of sustained growth and transformation, and leaves the Group in an excellent position to continue this success. Peter is an extremely experienced individual with a strong track record, and the Board believes that he is the right person to oversee the next stage of the Group's development.

Ken Scobie, Chairman, said: "I have greatly enjoyed my thirteen years as Chairman of Chemring, during which time the Group successfully focused its operations within niche markets, entered the FTSE 250 and achieved a market capitalisation in excess of £1.25 billion. The transformation of the Group could only have been achieved with the dedication and hard work of its management and employees. I am grateful for the support they have given to me and I wish them all well in the future."

There are no additional disclosures required to be made in accordance with LR 9.6.13R of the Listing Rules of the UK Listing Authority.       

For further information:

Dr David Price	Chief Executive, Chemring Group PLC	01489 881880
Rupert Pittman	Cardew Group	020 7930 0777

Biographical details:

Peter Hickson (65) has had senior management experience with a number of large international companies. He is currently the Chairman of Communisis plc, where he is also Chairman of the Nominations Committee and a member of the Remuneration Committee. Mr Hickson is also the Senior Independent Director of London & Continental Railways Ltd, and a non-executive director of the FTSE 100 mining group Kazakhmys PLC, where he is a member of the Health, Safety & Environment Committee.

He was Chairman of Anglian Water Group from 2003 to 2009, and served as Finance Director of Powergen plc between 1996 and 2002. He was a non-executive director of Scottish Power plc from 2006 to 2007, Marconi Corporation plc from 2004 to 2007, and RAC plc from 1994 to 2002. Mr Hickson is also a trustee and Board member of Orbis Charitable Trust, the international sight saving charity, and a Fellow of the Institute of Chartered Accountants.

 

END

 

 

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