John McAdam appointed Chairman of ConvaTec
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014
John McAdam appointed Chairman of ConvaTec
Reading, United Kingdom (19 August 2019): ConvaTec Group Plc ("ConvaTec" or "the Company") today is delighted to announce that Dr John McAdam has been appointed Chairman of the Board of ConvaTec with effect from 30th September 2019, the same date as Karim Bitar joins as Chief Executive Officer of the Company.
John has recently stepped down as Chairman of Rentokil Initial plc and is due to retire as Chairman of United Utilities Group PLC on 31st December 2019, having taken up the role of Chairman of both companies in 2008. He is also Senior Independent Director of Cobham plc, a position he has held since August 2017, and a Non Executive Director of Wilmcote Holdings plc since October 2018. John has previously been a Non Executive Director of a number of FTSE 100 and US companies, including Rolls-Royce Group plc, J Sainsbury plc and The Sara Lee Corporation. He spent more than two decades at Unilever before joining ICI, where he became Chief Executive in 2003 until its takeover by Akzo Nobel in 2008.
With 20 years' service as a board director, including as Chairman and Chief Executive Officer in companies undertaking transformation, John has a wealth of experience on which to draw in his role as Chairman and leader of the Board.
On 30th September, Rick Anderson will step down from his current interim role as Executive Chairman to resume his role as a Non Executive Director of ConvaTec.
Rick Anderson commented:
"I am delighted that John has agreed to become Chairman of the Board of ConvaTec. He brings a wealth of experience to our Company, as a senior executive, as Chairman and as a Board member of a number of leading UK companies. John brings significant transformational leadership to the Board, which will further enable the acceleration of the Transformation Initiative that we launched earlier this year. I am looking forward to working with John and Karim Bitar to realise the full potential of the Group"
John McAdam added:
"ConvaTec has faced a number of challenges since its listing in 2016. The management team is already taking significant actions to improve the Company's performance and I look forward to working with Karim and the Board to continue the execution of the transformation initiative and to deliver improved returns to our shareholders. I would also like to acknowledge and thank Rick for stepping forward in October 2018 to lead the Group during its transition to a new leadership team. During this period, he has set the Group on an important and new trajectory of execution and change, including cultural change. This is a critical and valuable base from which Karim and I will commence our tenure with the Group and we and our shareholders will benefit greatly from Rick's ongoing contribution to the Board, the Company and its transformation."
Ends
Notes:
1. Dr McAdam will become Chairman of the Company's Nominations Committee, with effect from his appointment as Chairman of the Board.
2. This announcement is made in accordance with Listing Rule 9.6.11R (1).
3. In accordance with Listing Rule 9.6.13(1), Dr McAdam has confirmed that he is currently a Director of United Utilities Group PLC, Cobham plc and Wilmcote Holdings plc. He was a Director of Rentokil Initial plc from 14 May 2008 to 8 May 2019 and of J Sainsbury plc from 1 September 2005 to 6 July 2016.
4. In accordance with Listing Rule 9.6 13 (2) - (6) Dr McAdam has advised that he has no details to disclose.
Enquiries:
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Analysts and Investors |
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John Crosse, VP Investor Relations |
+44 (0)7500 141435 |
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Mark Reynolds, Director Investor Relations |
+44 (0)7551 036625
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Media |
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Bobby Leach, VP Group Corporate Affairs |
+44 (0)7770 842226 |
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Finsbury |
+44 (0)207 2513801 |
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About ConvaTec
ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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