Appointment of Chair Designate

RNS Number : 0449N

Morgan Advanced Materials PLC

18 January 2023

 

18 January 2023

MORGAN ADVANCED MATERIALS PLC

Appointment of Chair Designate and Non-Executive Director

Morgan Advanced Materials plc ("Morgan"; "Company"), the global manufacturer of advanced carbon and ceramic materials for complex and technologically demanding applications, announces today the appointment of Ian Marchant as a director and Chair designate. Ian will join the Board as a Non-Executive Director on 1 February 2023 and will succeed Douglas Caster as the Company's Chair after the Company's 2023 AGM, subject to shareholder approval; at which point Douglas will stand down as a director of the Company.

Ian is a highly strategic and successful leader with more than 35 years of wide-ranging experience at major businesses, bringing a strong track record of value creation and listed board experience .  Ian served as Chief Executive of SSE plc from October 2002 to June 2013; prior to this he was the Finance Director of SSE and Southern Electric plc. He is a seasoned non-executive director and chair, having served as Chair of John Wood Group plc and on the Board of Aggreko plc. He currently serves as Chair of Thames Water Utilities Ltd and Logan Energy Ltd.

Commenting on the appointment, Laurence Mulliez, Senior Independent Director , said:

"We are extremely pleased to have secured a Chair of Ian's calibre. After a comprehensive search process, Ian was the stand-out candidate, chosen by the Board due to his exceptional experience, his insightful and strategic leadership and his valuable commercial expertise.

Ian's appointment will enable a smooth transition ahead of Douglas completing his nine-year tenure on the Board. On behalf of the Board, I would like to thank Douglas for the outstanding contribution he has made to Morgan. He has successfully guided the business through many challenges and successes. We wish him well for the future."

Ian Marchant, Chair designate, commented:

"I am delighted to join Morgan at such an important time for the business. The Company has a clear strategy rooted in its purpose to use advanced materials to make the world more sustainable and to improve the quality of life. The business has been transformed in recent years. I am greatly looking forward to working with Pete and his executive team to build on everything Morgan has achieved to date and to create value for all of its stakeholders through the execution of the strategy."

Douglas Caster, Chair said:

"It has been a privilege to work with so many talented colleagues at Morgan for nearly nine years, as we repositioned the Group into the leading global manufacturer of advanced carbon and ceramic advanced materials. I have every confidence that the Group has the capabilities to continue to lead and grow in its markets in the years ahead. I wish Ian every success."

For further enquiries:

Pete Raby  Morgan Advanced Materials plc  01753 859 211

Richard Armitage

Nina Coad                           Brunswick                                                                  0207 404 5959

Notes:

1. Ian Marchant will become a member of the Nomination Committee on 1 February 2023 and will become Chair of the Nomination Committee at the conclusion of the 2023 AGM.

2. For the purpose of Listing Rule 9.6.13(R), Ian was a non-executive director of Aggreko plc from November 2013 to August 2021 and non-executive director of John Wood Group plc from May 2006 and Chair from March 2014 to September 2019. Ian joined the board of Thames Water Utilities Ltd in November 2017 and became Chair in January 2018. There is no further information to be disclosed pursuant to Listing Rule 9.6.13(R).

3. The Directors have determined that upon appointment he will be independent.

4. Ian will receive the following fees in line with the Company's Remuneration Policy:

·annual fee as a Non-Executive Director of 54,820 pro-rata.

·all-inclusive annual fee on appointment as Chair of 210,000.

 

END

 

 

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