2nd Jun 2009 07:00
Retirement of Brian McGowan as Chairman
The Board of Umeco plc ("Umeco") announces that it has been informed by Brian McGowan of his intention to retire as Chairman.
The Nominations Committee, under the Chairmanship of Senior Independent Director David Porter, has commenced the process to identify a suitable successor. Brian, who will be 65 later this year, will stand down by 30 September at the latest, by which time it is anticipated a suitable successor will have been identified.
Brian McGowan, Chairman of Umeco plc, said:
"After twelve years as Chairman, the time has come for me to stand back and for a successor to be found. As today's results demonstrate, Umeco is in fine shape and I commend the management team and all who work at Umeco for successfully navigating the company through these difficult times. Umeco provides important services in long term growth markets and, with its first class management team, I have no doubt it has an exciting future."
Clive Snowdon, Chief Executive of Umeco plc, said:
"It has been a privilege to work with Brian. From a very small company consisting of a number of disparate businesses Brian has helped to build a leading international provider of composite material and aerospace supply chain services. I, and the whole executive team, will miss his leadership and clear thinking."
David Porter, Senior Independent Director of Umeco plc, said:
"On behalf of the Board I would like to thank Brian for his outstanding contribution to Umeco over the last twelve years. Since his appointment, turnover has gone from £28m to £415m and profits have grown over ten times to £ 29m today. It is a significant achievement and we wish him the very best in retirement".
For further information please contact:
Tulchan Communications Tel: +44 (0) 207 353 4200John SunnucksMal PatelNotes to Editors
Umeco plc is an international provider of supply chain services and advanced composite materials primarily to the aerospace & defence industries.
vendorRelated Shares:
Ubsetfusmca