10th Oct 2013 07:56
LONDON (Alliance News) - Engineering company GKN PLC Thursday said Finance Director William Seeger intends to step down from his position next February and retire from the board in August, and will be replaced by Adam Walker who will join from publishing and events company Informa PLC.
Seeger, known as Bill, joined the builder of wings for Airbus planes and car components, in 2003 and was appointed group finance director in September 2007. He will step down from his position February 25 and retire from the board August 31.
"Bill's financial discipline, strong leadership and commitment have been key factors in the consolidation of the Group's financial strength and the creation of strong foundations for future growth," GKN Chairman Mike Turner said in a statement.
Walker will join GKN's board January 1 as finance director designate and succeed Seeger February 26. He has been CFO of Informa sine March 2008.
"We are delighted that Adam will join the group as Bill's successor. His wide ranging financial management experience in international quoted companies makes him ideally suited for the role at GKN and we look forward to welcoming him to the group," Turner said.
Walker's departure from Informa means the company is undergoing a complete change of top management. In a statement, the publisher said Chief Executive Designate Stephen Carter would work with an executive search firm to find a replacement for Walker.
"We are sad to see him go but understand his ambitions, which are met by the attractive opportunity on offer," Informa Chairman Derek Mapp said.
GKN shares were up 2.1% at 350.5 pence Thursday morning, one of the biggest risers on the FTSE100. Informa shares were down 2.2% at 499 pence, the biggest faller on the FTSE 250.
By Steve McGrath; [email protected]; @stevemcgrath1
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