Directorate Change

RNS Number : 5649C

Chemring Group PLC

29 June 2016

 

29 June 2016

Chemring Group PLC

("Chemring" or "the Group")

Directorate Change

Chemring today announces that Steve Bowers, Group Finance Director, has informed the Board of his intention to leave the Group to take up an appointment as Chief Financial Officer of Herbert Smith Freehills. Steve will remain with Chemring to effect an orderly transition, with a recruitment process having been initiated to identify a new Group Finance Director.

Michael Flowers, Group Chief Executive of Chemring, commented: "Steve leaves the Group in a much stronger financial position and the Board takes this opportunity to thank him for his valuable contribution over the last three years."

Enquiries:

Chemring Group PLC
Michael Flowers	Group Chief Executive	[phone]
Rupert Pittman	Group Director of Corporate Affairs	[phone]
MHP Communications
Andrew Jaques		[phone]
John Olsen
James White

Cautionary statement

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Chemring's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approvals for engineering or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects. Chemring undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.

Notes to editors

·    Chemring is a global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets

·    Employing approximately 2,750 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries

·    Chemring is now organised under three strategic product segments:  Countermeasures, Sensors & Electronics, and Energetic Systems

·    Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats

·    Operating in niche markets and with strong investment in research and development, Chemring has the agility to rapidly react to urgent customer needs

www.chemring.co.uk

 

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