Directorate Change

Coats Group PLC

07 January 2025

 

7 January 2025

LEI: 2138003SPYWGAITNFY17

Coats Group plc

Group Chief Financial Officer succession

The Board of Coats Group plc ("Coats" or the "Group") announces that Jackie Callaway, Group Chief Financial Officer ("CFO"), has mutually agreed with the Board that she will step down from her role as CFO at the conclusion of the AGM on 21 May 2025 and will assist with an orderly transition to 30 June 2025. Jackie has been with the Group for four and a half years.

Following a comprehensive selection process, the Board is pleased to announce that Hannah Nichols will become Coats' Group Chief Financial Officer. She is expected to join the Group as Group Chief Financial Officer designate on 24 April 2025 and will also become an Executive Director. On 21 May 2025, at the conclusion of the AGM, Hannah will assume CFO responsibilities.

Hannah Nichols joins from Hill & Smith PLC, the FTSE 250 international industrial group, where she has been Chief Financial Officer since 2019. Prior to this Hannah worked at BT Group plc and has over 20 years of experience in a range of finance roles. Hannah is currently a Non-Executive Director of Oxford Instruments plc.

David Gosnell, Chair of Coats, comments:

"I would like to thank Jackie for her service and outstanding contribution over the last four and a half years. She has played an important role in a number of significant operational and strategic developments for the Group, and we wish her all the very best for the future. We are sad as a Board to see her leave."

"We are delighted to welcome Hannah to the team. Having run a thorough search process, we are excited to have found a great candidate who has the experience and skills to deliver the next part of the Coats journey."

Enquiry details
Investors	Anjali Kotak	Coats Group plc	[phone]
Media	Richard Mountain / Nick Hasell	FTI Consulting	[phone]

Notes:

Hannah Nichols' remuneration package will be aligned with the Company's Directors' remuneration policy approved by shareholders on 17 May 2023, reflective of the current Group Chief Financial Officer package. On appointment her annual salary will be £465,000, plus pension allowance aligned with the UK workforce of 12% of base salary. Other elements of remuneration are aligned to policy including benefits. Her maximum incentive opportunities will include a maximum annual bonus opportunity of 125% of base salary and eligibility to receive an LTIP award equal to 150% of base salary.

Hannah will also receive awards in Coats shares to compensate her for the remuneration she is forfeiting on leaving her previous employer. These will remain subject to performance conditions where appropriate and reflect the value of the forfeited awards. Details will be disclosed in the Directors' Remuneration Report for the year ending 31 December 2024.

There is no further information to be disclosed pursuant to Listing Rule 6.4.8R.

About Coats Group plc

Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenue in 2023 was $1.4 billion.

Trusted by the world's leading companies to deliver crucial, innovative, and sustainable solutions, Coats provides value-adding products including apparel, accessory and footwear threads, structural footwear components, fabrics, yarns and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.

With a proud heritage dating back more than 250 years and spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a permanent workforce of more than 15,000, serving its customers worldwide.

Coats connects talent, textiles, and technology, to make a better and more sustainable world. Worldwide, there are four dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to validated Science Based sustainability targets for 2030 and beyond, with an aspiration of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance. To find out more about Coats visit www.coats.com.

 

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