Morgan Advanced Materials plc
5 November 2026
Directorate Change
Further to the announcement made on 7 May 2026, Morgan Advanced Materials plc (‘Morgan’, the ‘Company’) is delighted to announce the appointment of Elizabeth Knowles, currently Morgan’s Group Director of Finance, as CFO and Board director with effect from 1 January 2027. Richard Armitage will retire as CFO and step down from the Board on 31 December 2026. He will continue to drive the Strategic Review of Thermal Products and support the CFO transition until the end of March 2027.
Elizabeth has a successful track record in leading finance teams globally. Elizabeth joined Morgan in September 2024 as Group Director of Finance. Prior to Morgan, she was the Global Finance Transformation Director at Argenta Global Limited. Before joining Argenta, Elizabeth spent 11 years at Vectura Group plc, successively as Group Financial Accountant, Group Financial Controller, VP Investor Relations & Corporate Finance. She started her career in audit at PricewaterhouseCoopers.
Ian Marchant, Chairman, said:
“After a rigorous process that considered internal and external candidates, Elizabeth was the stand-out candidate and the Board is delighted to appoint her as the next CFO of Morgan. Her strong business and corporate finance experience and proven leadership at Morgan will continue to be invaluable as we execute our strategy, whilst maintaining the financial discipline that has underpinned the Group's recent progress. Richard has played a central role in positioning Morgan for margin enhancing growth and led several transformation programmes. We thank him for his significant contribution to the Group and his commitment to supporting an orderly transition.”
Damien Caby, CEO, added :
“I want to thank Richard for his collaboration and leadership, and his strong support in developing our new strategy and driving its implementation. I am delighted that Elizabeth has been appointed as his successor. She has a deep understanding of our business, strong experience of partnering across the organisation and will bring her dynamism and commitment to the role. I look forward to continuing to work closely with Elizabeth to deliver our strategy to unlock Morgan’s potential.”
Elizabeth Knowles, CFO designate, said:
“It is a great privilege to be appointed as Morgan’s next CFO. I am excited about the future and I look forward to working closely with Damien, the Board and the leadership team building on our momentum and delivering on the great potential for value creation that we see in Morgan.”
There are no other matters to be disclosed under UK listing rule 6.4.8R (1)-(6) in relation to Elizabeth's appointment.
For further information:
Morgan Advanced Materials plc 01753 837 000
Damien Caby, CEO
Nicholas Frost, Investor Relations
Teneo 0207 260 2700
Martin Robinson
Giles Kernick
Notes:
Elizabeth's remuneration arrangements have been set in accordance with the Directors' Remuneration Policy. On appointment, her annual salary will be £410,000. Full details will be disclosed in the Morgan 2026 Annual Report.
For the purposes of section 430(2B) of the Companies Act 2006, Richard will receive his salary and benefits until 31 March 2027, but he will not receive any payment for loss of office.
Richard will be treated as a good leaver for variable pay purposes and his salary, bonus and outstanding incentive awards will be treated in accordance with the Remuneration Policy.
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.