15th Mar 2005 07:03
Cookson Group PLC15 March 2005 15 March 2005 COOKSON GROUP plc BOARD CHANGES Cookson Group plc, the international materials science company, announces thefollowing Board changes. Dennis Millard, Group Finance Director Dennis Millard, Group Finance Director, has informed the Board of his intentionto step down from the Board and leave the Company during the course of 2005. Mr Millard has been Group Finance Director since 1996. The process ofrecruiting a successor has commenced and Mr Millard has agreed to continue inhis role until such time as an appointment has been made and an appropriatetransition effected. Dennis Millard commented: "My time as Cookson's Finance Director has been hugely fulfilling. However,after more than nine years, and with the recent strategic review and refinancingcomplete, I feel that this is the right time to move on. After taking a completebreak for a period, I intend to seek new business challenges. "I am confident that the recently announced strategy is the best way forward forCookson, and my colleagues will have my full support during my remaining monthswith the Company, and indeed thereafter." Nick Salmon, Chief Executive, said: "Dennis has been an extremely effective Finance Director and an enormouslysupportive colleague to me during my initial period at Cookson. "Importantly, he has recently put in place new financing arrangements whichreflect the significant improvement in Cookson's financial condition andunderpin our operational and strategic objectives for the future. "Dennis has my personal thanks and best wishes for his future plans. In themeantime, I am delighted that he has agreed to stay with us in order to effect asmooth transition to his successor." Kent Atkinson, non-executive Director Kent Atkinson, non-executive Director, who joined the Cookson Board in April2003, has decided to step down from the Board with effect from 15 April, inorder to devote more time to his other commitments. He was recently appointedas a non-executive Director of Standard Life Assurance Company, and is also anon-executive Director of Marconi Corporation PLC and Coca-Cola HBC S.A. Mr Atkinson will be succeeded as Senior Independent Director by John Sussenswith immediate effect. Mr Sussens joined the Board of Cookson in May 2004. The Board is in the process of recruiting an additional non-executive Director,who in due course will succeed Mr Atkinson as Chairman of the Audit Committee. Commenting on the above changes, Bob Beeston, Chairman of Cookson, said: "Dennis Millard has been an outstanding Finance Director of Cookson over aperiod that has encompassed both significant achievements and considerablechallenges. Above all, the Group is now on a very sound financial footing, forwhich Dennis should take much personal credit. When he leaves Cookson laterthis year, it will be with our sincere thanks and our very best wishes. "I would also like to thank Kent Atkinson, on behalf of the Board, for all thathe has contributed to Cookson over the past two years as our Senior IndependentDirector and Chairman of the Audit Committee. He has played an active andvaluable role during a demanding period of change, and we wish him well with hisnew commitments." For further information, please contact: Shareholder/analyst enquiries:Bob Beeston, Chairman Cookson Group plcNick Salmon, Chief Executive Tel: 020 7061 6500 Press enquiries:John Olsen Hogarth Partnership Tel: 020 7357 9477 Cookson Group has today announced its preliminary results for the year to 31December 2004. The results announcement is available on Cookson's website:www.cooksongroup.co.uk Cookson Group plc, 265 Strand, London WC2R 1DBRegistered in England and Wales No. 251977www.cooksongroup.co.uk About Cookson Group Cookson Group is a leading materials science company which provides materials,processes and services to customers worldwide. The Group operates as threedivisions - Electronics, Ceramics and Precious Metals. The Electronics divisionis a leading manufacturer and supplier of materials and services to theelectronics industry, primarily serving fabricators and assemblers of printedcircuit boards, assemblers of semiconductor packaging and the electrical andindustrial markets. The Ceramics division is the world leader in the supply ofadvanced flow control and refractory products and systems to the iron and steelindustry and is also a leading supplier of refractory lining materials for ironand steelmaking and other industrial processes. The Precious Metals division isa leading supplier to the jewellery industry of fabricated precious metalsproducts. Headquartered in London, Cookson employs over 16,000 people in more than 35countries and sells its products in over 100 countries. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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