7 March 2016
Chemring Group PLC
("Chemring" or "the Group")
Appointment of Non-Executive Director
Chemring Group today announces the appointment of Daniel Dayan as a non-executive director. He will join the Board with immediate effect.
Daniel (52) has a wealth of senior level experience within the engineering and manufacturing sector, including a number of executive and non-executive roles. He is currently Chairman and CEO of LINPAC Group, a €600 million leader in polymer-based fresh food packaging, and is non-executive Chairman of the Nonwovens Innovation and Research Institute Ltd.
From 2005-2013 Daniel was CEO of Fiberweb plc, a global, speciality industrial textiles manufacturer. During his tenure he led a turnaround of the business, major portfolio restructuring, its demerger and LSE-listing, and a programme to strengthen the balance sheet. In 2013, Daniel led Fiberweb's sale to a US competitor, delivering excellent shareholder value.
Daniel holds a degree in engineering from Cambridge University, and earlier in his career worked at ICI plc, Arthur D. Little Ltd and Novar plc.
Upon his appointment to the Board of Chemring, Daniel will be appointed as Chairman of the Remuneration Committee, in succession to Ian Much.
Peter Hickson, Chairman of Chemring, commented: "I am delighted to welcome Daniel to Chemring. Daniel brings significant experience within the engineering and manufacturing sector, together with a strong corporate track record, and I am confident that he will make a valuable contribution to the development of the Group."
There are no further disclosures required to be made in accordance with LR 9.6.13R of the Listing Rules of the UK Listing Authority.
- ENDS -
Enquiries:
Chemring Group PLC |
|
Rupert Pittman |
Group Director of Corporate Affairs |
+44 (0)1794 833 901 |
|
|
|
|
MHP Communications |
|
|
Andrew Jaques |
|
+44 (0)20 3128 8100 |
John Olsen |
|
|
|
James White |
|
|
|
|
|
|
|
|
|
|
Cautionary statement
This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Chemring's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approvals for engineering or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects. Chemring undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.
Notes to editors
· Chemring is a global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets
· Employing approximately 3,000 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries
· Chemring is now organised under three strategic product segments: Countermeasures, Sensors & Electronics, and Energetic Systems
· Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats
· Operating in niche markets and with strong investment in research and development, Chemring has the agility to rapidly react to urgent customer needs
www.chemring.co.uk
