8 July 2025

Victrex plc

Directorate change: CEO succession

Jakob Sigurdsson to retire as Chief Executive

Dr James Routh appointed as new Chief Executive

Victrex plc, an innovative world leader in high performance polymer solutions, whose products enable environmental and societal benefit in multiple end-markets, today announces that Jakob Sigurdsson has notified the Board of his intention to retire after nearly eight years as Chief Executive. The Board is pleased to announce that Dr James Routh will join the Company as its new Chief Executive.

James is currently Chief Executive of AB Dynamics plc, which provides automated testing, simulation and verification systems for the transportation sector. He has more than 30 years' experience across international companies serving end-markets aligned to Victrex, including transportation, aerospace and defence. The appointment follows a comprehensive search process involving internal and external candidates.

Timing of the CEO succession

James will succeed Jakob as Chief Executive. He has signed his service contract, however, a definitive start date has not yet been agreed.  A further update on timing will be announced separately, once finalised. Jakob will step down as Chief Executive once James joins the Board, ensuring an orderly transition.

Commenting on the appointment, Vivienne Cox DBE, Chair of Victrex, said:

Retirement of Jakob Sigurdsson

"We are grateful to Jakob for his contribution to Victrex over the past eight years and we wish him well in his eventual retirement. The Group is now a more differentiated business, with a culture of innovation, stronger foundations and well-invested global assets to underpin our growth. Our products are aligned to global megatrends and there is significant growth potential to unlock within the Group. With this platform in place, we are well positioned to improve profitability and outcomes.

Appointment of Dr James Routh

"I am delighted to welcome James as our Chief Executive. He brings a wealth of significant leadership experience from international manufacturing and engineering based businesses, all of which are directly aligned to Victrex's end-markets. James was the standout candidate for the role and we will benefit from his proven experience in delivering focused growth strategies, particularly for new and emerging markets, or new technologies.

"During his tenure at AB Dynamics, he has delivered a substantial increase in revenue and operating profit through both organic and inorganic growth initiatives and saw significant growth in market capitalisation. With a proven history of implementing new technologies for commercial success, he has helped to deliver attractive top and bottom-line growth. The Board believes this appointment is a strong fit with Victrex and will serve us well."

Commenting on his appointment as Chief-Executive, Dr James Routh said:

"I am excited and proud to be appointed Chief Executive of such a highly regarded global company. The Group has strong growth drivers and very attractive end-market positions. I look forward to working with the Board, senior leadership, the wider Victrex team and our customers and partners, to enhance delivery in our key end-market segments and realise the strong growth potential of the business over the coming years."

This announcement includes information required by UK Listing Rules 6.4.6 to 6.4.8 and there is no information to report under Listing Rule 6.4.8R (2) - (6) inclusive in relation to James Routh.  A further announcement under Listing Rule 6.4.7 will be made as soon as the date of joining has been finalised.

This announcement contains inside information. The person responsible for distribution of this announcement is Jane Brisley, General Counsel & Company Secretary.

Notes:

1/ Prior to joining AB Dynamics, James Routh was Group Managing Director at FTSE 100 listed Diploma PLC for six years where he delivered a series of successful international acquisitions. His previous career involved engineering leadership positions predominantly in the aerospace and defence industry, including senior roles at Chemring Group PLC and Cobham PLC. James holds a PhD in Materials Engineering and is a Chartered Mechanical Engineer and Fellow of the Institution of Mechanical Engineers.

James' base salary will be £600,000. He will participate in the company's bonus and long-term incentive arrangements in accordance with the Company's remuneration policy. His notice period of 12 months is in line with normal Executive director policy. 

James is a Non-Executive Director and Senior Independent Director of Tracsis plc, which provides software and technology for the rail and wider transportation industries.

2/ Jakob Sigurdsson will continue to be paid in line with the Company's remuneration policy. He will be designated as a good leaver on his retirement date of 7 July 2026.

Victrex plc:

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy & Industrial, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 40 years' experience, we are moving beyond the polymer into semi-finished and finished products which shape future performance for our customers and our markets, enable environmental and societal benefit for our customers and drive value for our shareholders. Find out more at www.victrexplc.com