24th Nov 2015 10:06
LONDON (Alliance News) - Zotefoams PLC on Tuesday named Gary McGrath, formerly of RMC Group, Koch Industries, and GC Aesthetics, as its designated finance director, to replace Clifford Hurst before his retirement ahead of the company's annual meeting of shareholders in May 2016.
McGrath will join the company on December 1, the cellular material technology company said.
Zotefoams said the timing of the appointment will facilitate a "well-managed transition of responsibilities through our budgeting process and financial year-end".
"Initially, Gary will be appointed to the board and will work closely with Clifford to achieve a formal handover of the role of Finance Director during the first quarter of 2016," Zotefoams said.
Hurst, who has been the company's finance director for 15 years, said in May that he intended to retire at some stage in 2016.
Shares in Zotefoams were untraded on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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