30th May 2018 09:01
LONDON (Alliance News) - Essentra PLC on Wednesday said it has hired the current chief financial officer of Xaar PLC as its own CFO from November.
The FTSE 250 listed company, which manufactures and distributes plastic and fibre products, will appoint Lily Liu as CFO from November 15.
Liu will succeed Stefan Schellinger, who retires at the same date but will not leave the company until November 30.
Prior to her current position at Xaar, Liu was CFO of Smiths Detection within Smiths Group PLC. She has more than 20 years of experience in manufacturing and engineering, Essentra noted.
Essentra Chief Executive Paul Forman said that Liu was "a good match" as the company works to restore itself to "sustainable, profitable growth".
London Main Market-listed Xaar, an inkjet printing technology firm, said Shomit Kenkare, who joins Xaar as corporate development head on Friday, will be made interim CFO if a successor has not been found by the time of Liu's departure.
Kenkare was divisional CFO and vice president of finance at Kodak.
Shares in Essentra were up 1.2% at 472.40 pence on Wednesday morning. Xaar shares were down 2.6% to 330.56p.
Related Shares:
XaarSmiths GroupEssentra