Thursday,10 August 2023

Trifast plc

(Trifast, TR, the Company)

Board Appointment

As set out in the 2023 Annual report published on the 11 July 2023 recruitment processes have been underway since March 2023, for both a permanent CEO and a Non-Executive Director/Chair elect.

Non-Executive Chair appointment

The Board is pleased to report that the process for the Non-Executive Director/Chair elect has been completed and that with effect from 10 August 2023, Serena Lang will be appointed to the Board as a Non-Executive Director/Chair elect. 

Serena is an experienced FTSE Chair and Board member. Her Executive career spanning more than 20 years across multi-sector industries both in the UK and internationally has allowed Serena to develop her skills and understanding of commercial business, at varying stages of growth covering strategy, transformation and M&A. 

Before joining industry Serena completed an MBA; she joined Capgemini (formerly Ernst & Young) where, between 2000-2003 she led strategic and transformation projects for major corporations, including BP.  From 2003-2007 Serena worked for BP plc and was recognised as one of its top 100 employees.  She then spent five years with Invensys plc (2008-2013) where she held senior management roles including managing the BP account and then as Regional Chief Executive, North West Europe & Africa (2009-2011).  Over this period of her career Serena developed, collaborated and implemented a number of successful transformational growth strategies including global effectiveness & efficiencies initiatives that delivered growth whilst improving the customer proposition, product portfolio and supply chain overall.

Since 2015 Serena has developed significant Board experience both within the private and plc arena. She joined Eleco plc and was part of the team that oversaw management succession and its transition to a SaaS business. Over a nine-year tenure she held the roles of Non-Executive Director, SID and Chair of the PLC Board, until May 2023 when she stepped down from her role. Serena's current Non-Executive Directorships include; Henry Boot PLC and Ainscough Crane Hire Limited.

Jonathan Shearman, the current Chair will step down from the Board on 14 September 2023 with Serena taking over as Chair from this date. Consequently, as he is not now seeking re-election at the 2023 Annual General Meeting, Resolution 5 contained in the Notice of Meeting, published on 18 July 2023 has been withdrawn.

Clive Watson, Senior Independent Director, Trifast plc commented:

"The Board would like to acknowledge the hard work, commitment and dedication that Jonathan has afforded to the overall business over his 14-years with Trifast.  He joined as NED in 2009 and became Non-Executive Chair in 2020.  On behalf of everyone around the globe whom Jonathan invested time to get to know and mentor we thank him for his wise counsel, support and contribution particularly over the more recent challenging times.  We wish Jonathan and his family well for the future."

"On behalf of all stakeholders the Board welcome Serena to the Company.  Her extensive leadership, experience and skills will enhance the team's capabilities and we all look forward to working with her and taking the Trifast business forward as it focuses on the future and delivering its growth strategy."

CEO appointment

The search for a permanent CEO has been progressing well with a further announcement on this being made in due course.

There are no other disclosures required to be made in respect of Serena Lang, pursuant to Listing Rule 9.6.13R.

About Trifast plc (TR)

Founded in East Sussex in 1973, TR is a 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.

The Group supplies to customers in c.70 countries across a wide range of industries, including light vehicle, heavy vehicle, health & home, energy, tech, & infrastructure (ET&I), general industrial and distributors.  As a full-service provider to multinational OEMs and Tier 1 companies spanning several sectors, we deliver comprehensive support to our customers across every requirement, from concept design through to technical engineering consultancy, manufacturing, supply management and global logistics.

As an international business we are able to provide 24/7 customer support from across key regions in the UK, Asia, Europe and North America. In addition to our service locations, we operate a number of manufacturing facilities focused on high volume cold forged fasteners and special parts. We have also established Technical & Innovation Centres to support R&D and customer collaboration across the world.

For more information, visit:

TRIFAST PLC TRI Stock | London Stock Exchange

Our website: www.trifast.com

LinkedIn: www.linkedin.com/company/tr-fastenings

Twitter: www.twitter.com/trfastenings

Facebook: www.facebook.com/trfastenings

TR Annual Report 2023: https://www.trfastenings.com/investors/reports-and-presentations

TR Sustainability Report 2023: https://www.trfastenings.com/investors/reports-and-presentations

Note

Trifast, TR and TR Fastenings are registered trademarks of the Company

LEI number: 213800WFIVE6RWK3CR22