10th Feb 2025 08:35
(Alliance News) - Johnson Matthey PLC on Monday said that Richard Pike will become its new chief financial officer, while current Chair Patrick Thomas will step down later this year.
Pike, who is currently group finance director at DS Smith PLC, will join Johnson Matthey's board on April 1. He replaces Stephen Oxley, who will remain as CFO until March 31 to ensure an orderly transition.
The London-based speciality chemicals and sustainable technologies company said Pike has extensive experience in finance and the manufacturing sector, having previously worked at waste management firm Biffa PLC and in senior roles at AB Sugar and British Sugar.
Chief Executive Officer Liam Condon said: "I am really pleased to welcome Richard to JM as our CFO. Richard's proven track record of financial leadership will be critical as we continue to execute our transformation strategy, with a strong focus on delivering cash generation and creating value for all our stakeholders."
Separately, Johnson Matthey said Patrick Thomas will step down as chair after the company's annual general meeting on July 17, following nearly seven years in the role. The company has begun searching for his successor.
Thomas said: "It has been my great privilege to serve as chair of JM since 2018 and to oversee the company's progress in executing its transformation strategy. It is now the right time to hand over to a new chair who can guide the company through the next phase of its strategy. JM is a great company with exciting prospects, and I wish the team every success."
Shares in Johnson Matthey opened 0.7% up at 1,432.00 pence in London on Monday.
By Eva Castanedo, Alliance News reporter
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