Board Changes

RNS Number : 5504O

Tyman PLC

08 November 2016

 

TYMAN PLC

("Tyman" or the "Group")

Board Changes

Tyman, a leading international supplier of engineered components to the door and window industry, announces that Jamie Pike, the Group's Non-executive Chairman, has indicated his intention to step down as Chairman and as a Director of Tyman due to his increasing plc commitments elsewhere.  Accordingly, Jamie will leave the Board following the next Group AGM, expected to be held in May 2017.

The search for a successor to Jamie has been led by Mark Rollins, Chairman of the Group's Remuneration Committee, in conjunction with a leading executive search firm. 

Following completion of the search the Board is pleased to announce that Martin Towers, currently the Group's Senior Independent Director and Chairman of the Group's Audit Committee, has been appointed Chairman designate and will succeed Jamie as
Non-executive Chairman of Tyman following the 2017 AGM. 

In light of the selection of Martin Towers as Chairman designate, Mark Rollins has agreed to take on the role of Senior Independent Director with effect from today.

An announcement regarding a successor to Martin Towers as Chairman of the Group's Audit Committee will be made in due course.

Board Composition

The composition of the Group Board is now as follows:

Jamie Pike	Non-executive Chairman
Martin Towers	Non-executive Director Chairman designate Audit Committee Chairman
Louis Eperjesi	Chief Executive Officer
James Brotherton	Chief Financial Officer
Mark Rollins	Non-executive Director Senior Independent Director Remuneration Committee Chairman
Angelika Westerwelle	Non-executive Director

Jamie Pike said:

"After seven years as Chairman of Tyman this is the right time for me to step down from the Board.  I am pleased that Martin will succeed me as Chairman and am confident that his skills and experience will make a significant contribution to the future development of the Group."

Martin Towers said:

"On behalf of the Board I would like to thank Jamie for his commitment to Tyman over the past seven years, a period during which the Group has made considerable progress.  I am delighted to have been invited to become Chairman and I look forward to working with the executive team to continue to develop and grow the Group."

8 November 2016

Enquiries:

Tyman plc	020 7976 8000
Carolyn Gibson - Group Company Secretary	www.tymanplc.com
MHP Communications	020 3128 8100
Reg Hoare
Jamie Ricketts
Nessyah Hart

Notes to editors

Martin Towers

Martin Towers was appointed as a non-executive Director of Tyman plc in December 2009 and was chief executive of Spice plc until its sale to Cinven in December 2010. Previously, Martin was group finance director of Kelda Group plc from 2003 until February 2008.  He is a fellow of the ICAEW and began his career with Coopers & Lybrand before moving to the retailer Ward White Group plc.  Martin has served as group finance director of McCarthy & Stone plc, The Spring Ram Corporation plc and Allied Textile Companies plc.  He was a non-executive director of Homestyle Group plc from 2004 to 2006 and of KCOM Group plc from 2009 to July 2015.  

Martin is currently a Non-executive Director and Senior Independent Director of RPC Group plc and Non-executive Chairman of Norcros plc.

Tyman plc

Tyman plc is a leading international supplier of engineered components to the door and window industry.  The Group's three Divisions - AmesburyTruth, ERA and Schlegel International - are market leaders in their respective geographies.

Following the acquisitions of Bilco, Giesse and Response the Group employs over 3,500 people and operates facilities in 19 countries worldwide.  Tyman is listed on the London Stock Exchange under the ticker TYMN.

Further information on the Group and the Group's products is available at www.tymanplc.com.

 

END

 

 

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