6 May 2011
IMI plc ("IMI" or "the Group")
Appointments of Chairman and Executive Director
IMI, the international engineering group, today announces the appointment of Roberto Quarta as Chairman with effect from 1 November 2011. He will be appointed to the Board initially as a non-executive director with effect from 1 June 2011, before taking over as Chairman from Norman Askew, who will retire from the Board on 31 October 2011. Roberto Quarta is currently Chairman of Clayton, Dubilier & Rice, Europe and of Rexel SA and a non-executive director of BAE Systems plc. A fuller biography is set out below.
The appointment follows a comprehensive search process led by the senior non-executive director, Terry Gateley. Roberto will chair the Nominations Committee from November 2011. The Board regards him as an independent director in terms of the UK Corporate Governance Code.
Sean Toomes, who for the last four years has been President of the Indoor Climate business, and who has over 25 years experience in IMI, is also appointed to the Board as an executive director with effect from 1 June 2011. In addition to his leadership role in Indoor Climate, Sean has responsibility for the Group's Key Account Management initiatives and will assume Board level functional responsibility for the Responsible Business agenda including health and safety, environment and compliance.
Martin Lamb, Chief Executive of IMI, said:
"We are very pleased that Roberto has agreed to become our new Chairman, taking over from Norman in the autumn of this year. Roberto has a wealth of experience in the engineering sector and a strong track record of leading large international companies. I am looking forward to working with him as the Group moves into its next stage of development.
I also welcome Sean's much deserved elevation to the Board following his excellent leadership of the Indoor Climate business over the last few years."
Roberto Quarta said:
"I am delighted to be joining the IMI Board at an exciting point in the Group's development. I look forward to working with my fellow board members to support the executive team as the Group continues to build on the strong progress it has made over the last few years to drive greater shareholder value."
There are no further matters to be disclosed pursuant to Listing Rule 9.6.13.
IMI has released an interim management statement this morning in a separate announcement.
Will Shaw IMI Tel: +44 (0)121 717 3712
Rollo Head / Clare Hunt Finsbury Tel: +44 (0)20 7251 3801
Notes to editors:
IMI is a global engineering group focused on the precise control and movement of fluids in critical applications. It works with leading international companies in over 50 countries to deliver innovative engineering solutions, built around valves and actuators, to address global trends such as clean energy, energy efficiency, healthcare and increasing automation. Its shares are listed on the London Stock Exchange and it is a member of the FTSE100. Further information is available at www.imiplc.com.
Roberto Quarta, aged 62, has significant management experience that spans a broad range of manufacturing and service businesses with global operations. He is a Partner and Chairman of Clayton, Dubilier & Rice Europe, the private equity firm, and Chairman of the Supervisory Board of Rexel SA, a global electrical products distributor with a market capitalisation of over €4 billion. Roberto has also been a non-executive director of BAE Systems plc since 2005.
He is the former Chairman of Italtel SpA and of BBA Group plc, where he was also chief executive. He was previously an executive director of BTR plc and a non-executive director of PowerGen plc and Equant NV.
Mr. Quarta was born in Italy and is a naturalised US citizen. He earned a Bachelor of Arts degree from the College of the Holy Cross in Worcester, Massachusetts, where he served on the Board of Trustees.
Sean Toomes, aged 42, joined IMI in Norgren's Watson Smith business based in Leeds in 1985. Since then he has held a number of senior commercial and management roles within the Fluid Power business, before becoming President of IMI's Indoor Climate business in 2007.
He is the former Vice President of Norgren's marketing and engineering activities where the current sector based Key Account strategy was initiated. He was previously the Managing Director of the Norgren Fluid Control Group headquartered in Geneva, Switzerland.
Mr. Toomes was born in the UK and earned a Bachelor of Arts degree from Leeds University.