15 March 2023

Volution Group plc

Appointment of Chair Designate

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, is pleased to announce that its Board of Directors has appointed Nigel Lingwood as Chair Designate.

Nigel will succeed Paul Hollingworth as Non-Executive Chair of the Company effective 23 June 2023, when Paul will stand down as Chair, after serving nine years on the Board.

Nigel is currently an independent Non-Executive Director at Volution, having been appointed to the Board in April 2020.  He has served as Chair of the Audit Committee since that time and is a member of both the Remuneration and Nomination Committees.  Nigel's appointment as Chair Designate follows an external search process led by the Senior Independent Director, Amanda Mellor.

Since his appointment in 2020, Nigel has made a valuable contribution to Volution, bringing extensive financial and accounting expertise to the Board, together with significant public company knowledge, and wide-ranging merger and acquisition experience, both in the UK and internationally.

Upon his appointment as Non-Executive Chair in June 2023, Nigel will chair the Nomination Committee, taking over from the current Committee Chair, Amanda Mellor.  He will step down as Chair of the Audit Committee in line with best practice.  A search for a Chair of Audit is now under way.

Amanda Mellor, Senior Independent Director of Volution, commented:

"We are delighted to have appointed Nigel to succeed Paul.  We conducted a thorough search for Paul's successor, and we believe that Nigel brings strong understanding of Volution's markets and opportunities as well as the leadership qualities and relevant expertise crucial for this role.  He will be well placed to lead the Board and support Volution's future ambitions. 

On behalf of the Board, I would like to thank Paul for his outstanding contribution to the Company since Volution's listing in 2014 and his significant stewardship as Chair, especially through the challenging Covid years.  We are grateful that he will work with Nigel to ensure an orderly handover and wish him all the very best for his retirement in June".

Nigel Lingwood commented:

"I am excited to have been appointed as Chair Designate, and I am very much looking forward to working with Paul and then taking up the reins in June.  I would like to thank Paul for his exceptional leadership and significant contribution to the journey of Volution during his tenure.  I look forward to working with the team on the Company's growth and margin ambitions going forward, and to further deliver on our strategy to provide "Healthy air, sustainably".

As Nigel Lingwood is an existing Director of the Company, there are no other details that are required to be disclosed in respect of Rule 9.6.13 of the Listing Rules.

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Enquiries:

Volution Group plc

Fiona Smith, Company Secretary                             

Legal Entity Identifier: 213800EPT84EQCDHO768

Note to Editors:

Nigel Lingwood:

Prior to joining Volution, Nigel had an executive career in finance, most recently serving as group finance director of Diploma PLC from 2001 to 2020.  During his time at Diploma, Nigel oversaw more than 50 international acquisitions across Europe, North America and Australia during which time the company had grown its market capitalisation from ca.£60 million to ca.£1.8 billion.  Nigel is currently a Non-Executive Director at Dialight plc and was previously senior independent director and audit committee chairman of Creston plc from July 2015 until December 2016.

About Volution:

Volution Group plc (LSE: FAN) is a leading international designer and manufacturer of energy efficient indoor air quality solutions. 

Volution Group comprises 19 key brands across three regions:

UK: Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing Buildings, Torin-Sifan.

Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection, Rtek, inVENTer, Ventilair, ClimaRad, ERI Corporation.

Australasia: Simx, Ventair, Manrose.

For more information, please go to: www.volutiongroupplc.com