7th Apr 2009 07:00
|
For Immediate Release |
7 April 2009 |
Devro plc
("Devro" or the "Company")
Appointment of Chairman
Devro plc (LSE: DVO), the world's leading manufacturer of collagen products for the food industry, announces the appointment of Steve Hannam as non-executive Chairman with effect from 7 May 2009. Steve succeeds Pat Barrett OBE who, following an announcement on 28 August 2008, will retire at the Company's Annual General Meeting on 7 May 2009.
Steve Hannam brings a wealth of relevant listed company experience to the Devro Board, combined with a strong track record of growing businesses internationally in the speciality chemical and food industries.
Steve spent 13 years with BTP plc, the manufacturer and distributor of speciality chemical products from 1987 to 2000, rising from the role of Chief Executive, Chemical Division, to become Group Chief Executive in 1994. In that role he guided BTP through a period of organic growth combined with acquisitions and divestments to make it a force in its chosen markets. Sales were doubled to almost £400m with pre-tax profit increasing from £21m to £54m. In March 2000 BTP was acquired by Swiss listed speciality chemical company, Clariant AG, for £1.06bn. Steve remained with the business as a non-executive director of Clariant until 2003.
Since leaving BTP plc Steve has held a number of non-executive roles with both public and private equity owned companies including a period as Chairman of Aviagen, the poultry specialists, where he worked briefly with Peter Page, Devro's current Chief Executive.
He is currently Senior Independent non-executive Director and Chairman of the Audit Committee at Low & Bonar PLC, the global manufacturer and supplier of products to the technical textiles industry and a non-executive Director of AZ Electronic Materials Limited, a supplier of chemicals to semiconductor and flat screen producers. Steve is also a consultant to Associated British Foods plc, having been Chairman of its Ingredients Group between 2002 and 2004.
Pat Barrett, Chairman of Devro said "I am delighted that Steve Hannam has agreed to join the board of Devro and to succeed me as Chairman after the 2009 AGM. His background and experience are ideally suited to our Company and I have every confidence that under his leadership Devro will continue to progress and to grasp the exciting strategic opportunities that are opening up for the Company in future years."
Steve Hannam, said "Pat Barrett has done an excellent job of overseeing a period of change at Devro and strengthening the Company for the future. I am therefore delighted to succeed Pat at this time and look forward to working with Peter Page, my other Board colleagues and the Devro team to build on the solid base which has been established to deliver value for shareholders."
There are no details that are required to be disclosed under paragraphs 9.6.13(2)-(6) of the Listing Rules of the UK Listing Authority.
For further information, please contact:
|
Diane Stewart/Carrie Clement/ Charles Ryland |
|
|
Buchanan Communications |
Tel No: + 44 (0) 20 7466 5000 |
Further information on Devro can be found on the Company's website: www.devro.plc.uk
Related Shares:
DVO.L