Business
Board Changes
Board Changes.
About this update from Ibstock Plc
[{"type":"text","content":"\n \nRNS Number : 7959E Ibstock PLC 14 February 2018 \n\n \n \n14 February 2018\n \nIbstock plc\n \nBoard Changes\n \n \nIbstock plc ('Ibstock' or the 'Company') announces that Jamie Pike (Chairman) has today informed the Company that he will be appointed as Chairman of Spirax-Sarco Engineering plc (\"Spirax-Sarco\") following that company's AGM on 15 May 2018. Jamie is currently the Senior Independent Director at Spirax-Sarco, having been appointed to their Board as a Non-Executive Director in May 2014. \n \nAs a consequence of his appointment at Spirax-Sarco, Jamie will step down as Chairman and a Director of Ibstock immediately after conclusion of the Company's AGM on 24 May 2018.\n \nIbstock is pleased to announce that, as part of its long-term succession planning arrangements, the following changes will come into effect on 24 May 2018 immediately after conclusion of the AGM:\n \nJonathan Nicholls (currently Senior Independent Director and Chair of the Audit Committee) will be appointed Chairman of the Board.\n \nTracey Graham will be appointed as the Senior Independent Director, in addition to her current role as Chair of the Remuneration Committee.\n \nJustin Read will be appointed Chair of the Audit Committee.\n \nJonathan's proposed appointment as Chairman followed a rigorous and detailed process conducted by the Non-Executive Directors and assisted by The Zygos Partnership (\"Zygos\"). Zygos is one of Europe's leading board advisory firms and specialises in the appointment of chief executives, chairmen, chief financial officers and non-executive directors for listed companies.\n \nThe Board is in the process of reviewing its composition and will update the market with any developments.\n \n \nCommenting on Jamie's decision to step down from the Board, Jonathan Nicholls, Chairman elect, said:\n \n\"On behalf of the Board and our shareholders I should like to acknowledge with thanks Jamie's significant contribution to the Group. He was the Company's Chairman at the time of the IPO and has provided sound leadership, wise counsel and strong support to the Board of the newly listed company. We wish him every success with his new appointment.\"\n \n \nCommenting on his decision to step down from the Board, Jamie Pike said:\n \...