Adrian Whitfield to step down as CEO

RNS Number : 9651K

Synthomer PLC

01 July 2014

 



July 1^st 2014

Adrian Whitfield to step down as Group Chief Executive in June 2015

Synthomer plc ('Synthomer' or the 'Company') today announces that Adrian Whitfield, Group Chief Executive, will step down after eight years with the Company. To allow sufficient time for a replacement to be found and an orderly transition to take place, Adrian will remain as Group Chief Executive and on the Board until 30 June 2015.

The Board will conduct a comprehensive search for the Company's next Chief Executive and a further announcement will be made in due course.

Neil Johnson, Chairman, said:            

"Over the past 8 years, Adrian has overseen Synthomer's transformation from a small, diversified chemical business to a world leading producer of aqueous polymers. He led the highly successful acquisition of PolymerLatex in 2011 and during his tenure the Company's revenues have more than doubled to over £1 billion.

Today the business has a robust balance sheet, strong cashflow and excellent management team. On behalf of the board, I would like to thank Adrian for his hard work and commitment. We are sorry to see him go and wish him all the best for the future."

Adrian Whitfield said:

"The 8 years that I have spent with Synthomer have been among the most rewarding of my career. I am proud of the significant turnaround that has been achieved and our track record of strong growth. I have been fortunate to work with a fantastic team and Synthomer's dedicated employees around the world.

With the business on a solid platform supported by a clear strategy for future growth, now is the right time in my career to step down and allow someone else to take Synthomer forward. While I remain completely focused on the job until my successor is in place, my thanks go to the Board and everyone at Synthomer for supporting me in leading the Company through such a successful period of its development."

Enquiries:

Synthomer plc Neil Johnson, Chairman Adrian Whitfield, Group Chief Executive David Blackwood, Chief Financial Officer	[phone] (c/o Pendomer) [phone]
Pendomer Communications Charles Armitstead	[phone]

 

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