13th Dec 2007 10:23
Spirax-Sarco Engineering PLC13 December 2007 BOARD CHANGES AT SPIRAX-SARCO ENGINEERING PLC The Board of Spirax-Sarco Engineering plc, a world leader in theindustrial steam-using and peristaltic pumping markets, announces the retirementof Marcus Steel, Chief Executive, with effect from 31st March 2008. The Board is delighted to announce the appointment of Mark Vernon(54), currently Chief Operating Officer, as Chief Executive with effect from 1stApril 2008. Mark joined the Group in May 2003 as President of Spirax Sarco Inc.in the USA and took that business forward very successfully. He then came ontothe Board of Spirax-Sarco Engineering plc in July 2006 with responsibility forthe operations in the Americas and for Group Marketing. In June 2007, Mark wasappointed Chief Operating Officer and has relocated to the UK. Prior to joiningSpirax, Mark built up a broad experience in the valve and process controlindustry throughout the world. The Board also announces the retirement of Peter Smith, CompanySecretary and Director, with effect from 31st March 2008 and the appointment ofWilliam Stebbings (53) as Company Secretary with effect from 1st April 2008.William is a qualified solicitor and joined Spirax in February 2007 from LinpacGroup Ltd. where he was Group Solicitor. William has a wide industrialexperience built up at H.P. Bulmer Holdings PLC, Bunzl PLC and The DistillersCompany PLC. Board Chairman, Mike Townsend, comments as follows:- "On behalf of the shareholders, the Board acknowledges withgratitude the contributions to the Group's growth and prosperity made by bothMarcus and Peter, who have been with the Group for over 35 years and 33 yearsrespectively. Over the last 10 years as Chief Executive, Marcus has led theGroup with distinction and continued the Group's record of strong and consistentgrowth. Mark's appointment as Chief Executive is part of the Board's ongoingsuccession plans. We are very pleased to have made this appointment and Markbrings extensive experience in our industry to this position as well as clearstrategic thinking." Speaking about his appointment, Mark said: "I am delighted that, after the planned handover period, I will betaking up the appointment of Chief Executive of the Spirax-Sarco EngineeringGroup. It is a strong business with a long history of profitability and growth.There is excellent potential for the continued growth of both the Spirax Sarcoand Watson-Marlow Bredel businesses. I look forward to the challenges ahead, wehave a strong team of dedicated people in the Group and it will be a privilegeto take the business forward with them". Enquiries: Spirax-Sarco Engineering plc Tel: 01242 521361 Mike Townsend, Chairman Marcus Steel, Chief Executive Citigate Dewe Rogerson Tel: 0207 638 9571 Toby Mountford Justin Griffiths This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Spirax-Sarco