16th Jan 2025 11:16
Morgan Advanced Materials PLC - Windsor, England-based manufacturer of carbon and ceramic materials - Says Chief Executive Officer Pete Raby intends to retire, following a decade in the role. Raby will step down on July 1, and remain to support the transition until the end of August. The firm appoints Damien Caby, president of the Thermal Products division, as CEO designate. Caby will join the board on May 8 and assume the CEO role on July 1.
Ahead of its full-year results release for 2024 on February 28, the company says its annual sales were 3.6% higher year-on-year. Adjusted operating profit and net debt to adjusted earnings before interest, tax, depreciation and amortisation were in line with its expectations. The firm's enhanced simplification programme is "on track", while its share buyback programme is "progressing well", with GBP4.7 million in shares bought back by the end of December.
Current stock price: 260.00 pence, up 0.8% in London on Thursday morning
12-month change: down 5.1%
By Emily Parsons, Alliance News reporter
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