Business
Directorate Change
Directorate Change.
About this update from Costain Group Plc
[{"type":"text","content":"\n\n \nCostain Group PLC\n12 March 2024\nCostain Announces Bishoy Azmy To Step Down From Board\n \n\nCostain Group PLC (\"Costain\", or the \"Company\") announces Mr Bishoy Azmy is to step down from the Board of Costain with effect from 31 March 2024. Mr Azmy is the designated Board representative of ASGC, a Dubai-based construction conglomerate and 15% shareholder in the Company, and was appointed to the Board as a non-independent non-executive Director in June 2020.\nBishoy Azmy said: \"Costain has today announced yet another strong operational and cash performance demonstrating the successful delivery of its strategy and the exciting prospects for the business. I am also delighted that the Board has been significantly strengthened and refreshed with a change in Chair and the recent appointment of two non-executive Directors with excellent, directly relevant experience. I have already seen first-hand the benefits this brings to the Company. It is therefore a natural time for me to step down from the Board to focus on my other global interests. As a shareholder, we remain committed to the future of Costain.\"\nKate Rock, Chair, Costain said: \"Bishoy remains a strong advocate and supporter of Costain as we continue to grow the business and add value for our shareholders. We are very grateful to him for his considerable contribution to the Board during the past four years. I fully understand and appreciate that, as he sees Costain well set for future growth, he now wishes to step down from the Board to commit to his other significant global activities. I am also delighted with the recent appointments of Steve Mogford and Amanda Fisher as independent non-executive Directors who have brought their considerable experience to the Costain Board.\"\nThe relationship agreement between ASGC and the Company, which was put in place at the time of the equity raise in May 2020, is unaffected by Mr Azmy stepping down from the Costain Board.\nEnquiries:\n \n\n\n\n\n\nInvestors and analysts\n\n\[email protected]\n\n\n\n\nPaul Sharma, Costain\n \n\n\n+44 (0) 7867 501188\n\n\n\n\nFinancial media - Headland\n\n\[email protected]\n\n\n\n\nAndy Rivett-Carnac\n\n\n+44 (0) 7968 997 365\n\n\n\n\nCharlie Twigg\n\n\n+44 (0) 7946 494 568\n\n\n\n\n \nNotes to editors\n \n\nCostain helps to improve people...