Directorate Change

RNS Number : 3280K

Chemring Group PLC

24 June 2014

 



 FOR IMMEDIATE RELEASE                                                                                                                                      24 JUNE 2014

CHEMRING GROUP PLC

Directorate change

Michael Flowers appointed Group Chief Executive

Chemring Group PLC ("Chemring" or "the Group") announces that Michael Flowers has been appointed Group Chief Executive with immediate effect. Michael joined Chemring in 2006 and prior to today's appointment was Group Director, Countermeasures and a member of Chemring's Executive Committee.

Michael Flowers has spent 13 years in senior management positions within the defence industry. He previously served as an officer in the Australian Army for 22 years and was a graduate of the Australian Command and Staff College and the British Royal Military College of Science. After leaving the army, he was a senior manager at BAE Systems from 2001 to 2006, in programme and project management roles.

From 2006, he was Managing Director, Chemring Australia, where he established a state of the art countermeasures manufacturing facility and delivered substantial growth in the defence portfolio. In 2013, he was appointed Group Director, Munitions, with responsibility for Chemring's European munitions business. Michael led the successful sale of the European munitions business following the 2013 strategic review, working closely with Chemring's Board and advisers to negotiate and complete the disposal in May 2014.

Mark Papworth has stepped down from the Board of Chemring with immediate effect. 

Peter Hickson, Chairman of Chemring, said:

"Michael Flowers has a proven track record, both within the international defence industry and within Chemring, where he led our Australian business through a successful period of growth and, more recently, managed the complex disposal process of the European munitions business.  Michael is extremely knowledgeable about our markets and is well qualified to lead Chemring as we capitalise on our world leading technologies in Countermeasures, Sensors & Electronics and Energetic Systems.

Much has been achieved during Mark Papworth's tenure, including a significant reorganisation and refocusing of the Group and a substantial reduction in the cost base and we are grateful for his leadership during this period.

We are now moving from a period of critical and significant change to one where we must take maximum advantage of the stronger platform that has been created. To achieve this, a different set of skills is required in the role of Chief Executive, in particular extensive knowledge and understanding of the defence markets in which we operate."

Michael Flowers has a beneficial shareholding of 80,680 Chemring shares.

There is no further information to be disclosed pursuant to paragraph 9.6.13R of the UK Listing Rules in relation to Michael Flowers' appointment as a director of Chemring.

Ends

For further information, contact:

Chemring Group PLC                                      01489 881 880

Peter Hickson, Chairman

Steve Bowers, Finance Director

Rupert Pittman, Group Director of Communications and Investor Relations

MHP Communications                                   020 3128 8100

Andrew Jaques

John Olsen

James White

 

END

 

 

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