Spirax-Sarco Engineering PLC Chief Financial Officer Appointment (0634X)
18 Décembre 2023 - 8:00AM
UK Regulatory
TIDMSPX
RNS Number : 0634X
Spirax-Sarco Engineering PLC
18 December 2023
18 December 2023
Chief Financial Officer Appointment
Spirax-Sarco Engineering plc, the leading global thermal energy
management and fluid technology solutions Group, is pleased to
announce the Board has appointed Louisa Burdett as Chief Financial
Officer (CFO) and Executive Director with effect from July
2024.
Louisa is a highly experienced CFO having led finance functions
in several large companies including UK-listed Meggitt and Victrex.
Louisa is currently Chief Financial Officer of Croda International
Plc and serves as a Non-Executive Director and Audit Committee
Chair of RS Group plc.
The search for the successor to Nimesh Patel began shortly after
the announcement of Nimesh's appointment to Group Chief Executive,
a role he will take up on 16 January 2024.
The Board is also pleased to confirm that Director of Group
Finance, Phil Scott, will take up the role of Interim Chief
Financial Officer with effect from 16 January 2024. Phil's current
responsibilities include internal and external reporting, tax,
treasury and pensions. He joined the Group in 2021 with more than
20 years experience of leading senior finance teams in Ferguson plc
and Vodafone Group plc.
Jamie Pike, Chair, commented: "I look forward to welcoming
Louisa to the Group and its Board of Directors in July. Louisa has
an exceptional track record in leading finance for UK listed
companies, together with related Non-Executive and sector
experience that will be invaluable to the Board and Executive
Leadership team as we progress on our journey towards creating
sustainable value for all our stakeholders."
Nimesh Patel, added: "I am delighted that Louisa will be joining
our Group next year. Her insights, borne off a long and successful
career in some of the UK's leading industrial companies, as well as
her strong values, will bring further strength and depth to the
Group. I am really looking forward to working with Louisa, and our
Executive Leadership colleagues, as we combine our respective
knowledge, capabilities and energy to prepare for the opportunities
we see ahead.
"Having worked closely with Phil, I appreciate his deep
understanding of the Group and I am very pleased that he has agreed
to act as CFO on an interim basis. Phil will support both the Board
and the Executive Team from 16 January through to completion of an
orderly handover to Louisa after our Half Year results."
There are no further disclosures to be made pursuant to Listing
Rule 9.6.13.
Enquiries:
Mal Patel, Head of Investor Relations
Hazel Meldrum, Group Head of Communications
Tel: + 44 7881 359110
Jos Bieneman, Citigate Dewe Rogerson
Tel: +44 7834 336650
Remuneration disclosures
Louisa Burdett will receive an annual salary of GBP550,000. She
will be eligible to receive company pension contributions aligned
to the UK wider workforce rate of 10% of salary and will be
eligible to participate in the Annual Bonus Scheme and Performance
Share Plan of up to 125% and 175% of salary respectively. In
accordance with our shareholder approved remuneration policy, she
will receive replacement awards to compensate her for those
forfeited by joining the business. Consistent with our approach to
recruitment as outlined in our Policy, these awards will be aligned
with the amounts lost and the associated terms of the original
award. Ful l details will be disclosed in our 2023 Directors'
Remuneration Report.
There is no additional information to be disclosed pursuant to
LR 9.6.13 R.
About Spirax--Sarco Engineering plc
Spirax--Sarco Engineering plc is a leading global thermal energy
management and fluid technology solutions Group. It comprises three
world--leading Businesses: Steam Specialties, for the control and
management of steam; Electric Thermal Solutions, for advanced
electrical process heating and temperature management solutions;
and Watson-Marlow, for peristaltic pumping and associated fluid
path technologies. The Steam Specialties and Electric Thermal
Solutions Businesses provide a broad range of fluid control and
process heating products, engineered packages, site services and
systems expertise for a diverse range of industrial and
institutional customers. Both businesses help their customers
improve process efficiencies, meet environmental sustainability
targets, improve product quality and enhance the safety of their
operations. Watson--Marlow provides solutions for a wide variety of
demanding fluid path applications with highly accurate,
controllable and virtually maintenance-free pumps and associated
technologies.
The Group is headquartered in Cheltenham (UK), has 40
strategically located manufacturing plants around the world and
employs more than 10,000 people, including more than 2,100 direct
sales and service engineers. The Company's shares have been listed
on the London Stock Exchange since 1959 (symbol: SPX) and it is a
constituent of the FTSE 100 and the FTSE4Good Indexes.
Further information can be found at
www.spiraxsarcoengineering.com
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