Trifast plc

(Trifast, Group or Company)

leading international specialist in the design, engineering, manufacture, and distribution

of high-quality industrial fastenings and Category 'C' components principally to major global assembly industries

Main Board and Senior appointments

London, Tuesday, 22 November 2022: Trifast (LSE: Main Market symbol: TRI) today announces the following Main Board and Senior Executive Team appointments:

PLC Board

With effect from 1 December 2022, Darren Hayes-Powell joins the Board as Chief Financial Officer (CFO). Darren an engineer and qualified accountant developed his CFO career within a global and engineering environment in the UK, US, Asia and Africa. He has held senior roles within plc entities located in the UK and overseas with Rolls Royce (1983-2008) and more recently Goodyear Tire and Rubber Company (2008-2020).  Over his 12-year expatriate career he has developed a wealth of commercial and financial experience, implementing successful transformational value-add change and turnaround initiatives which drove profitability.  His enthusiasm, skills and knowledge will be invaluable to Trifast as it continues to develop its global footprint.

In our last Annual Report we informed shareholders that Scott Mac Meekin will retire at the end of the current financial year from his NED role at Trifast, a role he has held since 2013.  On behalf of all stakeholders, the Board thank Scott for his wise counsel and insight from his extensive experience gained across 30+ year career in both commercial and corporate structures across all major continents and cultures.

With effect from 1 January 2023, Louis Eperjesi will join the Board as a Non-Executive Director. Louis has had a successful executive career within the building industry both in the UK and internationally. He brings to the Board significant commercial knowledge of manufacturing and supply, strategic planning and M&A.  Before starting his NED career he was CEO at Tyman plc (2010-2019), a leading International supplier of engineered components and access solutions to the construction industry.  Prior to this he held similar senior management roles with Kingspan Group plc, Baxi Group Ltd, Lafarge SA and Caradon plc.  Louis has extensive board experience; he currently holds NED roles at Accsys Technologies plc and Ibstock plc.  He has previously held non-executive roles with Wolseley plc (SID) and CMS Enviro Systems Ltd (Chair). He is currently also Chair of Trustees at The Cheltenham Trust.

The Board is aware that these appointments create a temporary gender imbalance.  A process is already underway to address this and we would expect that to be complete before the end of this financial year.

Commenting on the changes, Mark Belton, CEO said:

"I would like to take this opportunity to welcome Darren and Louis to the business; they bring a wealth of financial and commercial experience to the business and with our ambitious aspirations their additional skills will complement the knowledge of our Board and global teams.  I would also like to acknowledge and thank Scott for the extensive contribution he has made over his 10-year tenure as a NED, and on behalf of everyone at the Company, we wish him well for the future.  Thanks also go to our Interim CFO Andy Cooksey who since September has provided excellent support to the Group's central finance team and provided advice to the PLC and Operating Executive Boards."

Operational structure change

Trifast has continued to evaluate and review its structure to ensure that it has the correct mix of experience and skill set to deliver the Group's strategic ambition.

The Board is delighted to announce that Dan Jack will take up the appointment of Chief Operating Officer (COO) with immediate effect.  Dan joined the business in 2020 and through his 25-year international career he has secured experience in P&L ownership, and commercial and business development including M&A and strategic planning.

Whilst the Operational Executive Board (OEB) will continue to represent all areas of the business globally, the Company has established an Executive Committee.  This will be Chaired by Mark Belton (CEO) and made up of personnel from across the Group's key functions: CFO (from 1 December, Darren Hayes-Powell), COO (Dan Jack), Group Company Secretary (Christopher Morgan), Global HR and Sustainability Director (Helen Toole), and Business Transformation Director (Stevie Meiklem).  The teams' composition will allow the business to be sufficiently agile and ensure that key opportunities and operational decisions are handled in a more effective and appropriate manner. 

NOTE:

Today, Trifast plc has also released its 2023 Half-year Report. http://www.rns-pdf.londonstockexchange.com/rns/1316H_1-2022-11-21.pdf

There are no other disclosures to be made in respect of Darren Hayes-Powell and Louis Eperjesi, pursuant to Listing Rule 9.6.13R.

To read more about our people, visit

Our Company | Find out more about TR as a Company (trfastenings.com)

TR Operational Executive Board | Find out more about our OEB (trfastenings.com)

TR Operational Management | Find out more about our Operational Management team (trfastenings.com)