The following amendment has been made to the ' Directorate Change ' announcement released on 3rd October 2022 at 7am under RNS No 3998B.
" The appointment forms part of Severfield's board succession process and it is intended that Mark should become Audit Chair following the retirement of Tony Osbaldiston in July 2023 at the end of his nine year tenure."
All other details remain unchanged.
The full amended text is shown below.
3 October 2022
Severfield plc
('the Company' or 'the Group')
Directorate Change
Appointment of Mark Pegler as Non-Executive Director
Severfield plc, the market leading structural steel group, is pleased to announce the appointment of Mark Pegler as a non-executive director with effect from 5 October 2022. He will serve on the Company's Remuneration, Nomination and Audit committees. The appointment forms part of Severfield's board succession process and it is intended that Mark should become Audit Chair following the retirement of Tony Osbaldiston in July 2023 at the end of his nine year tenure.
Mark is an experienced FTSE 250 board director, having spent over a decade as Chief Financial Officer at Hill & Smith Holdings PLC. His successful tenure saw significant growth of the business, with organic growth supplemented by multiple bolt-on acquisitions and expansion of the Group internationally.
Mark is also a Non-Executive Director and Chair of the Audit Committee at ELE Advanced Technologies Ltd, a specialist in the production of complex and high integrity super alloy components for the aerospace, industrial gas turbine and commercial diesel engine markets.
He is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW).
Kevin Whiteman, Non-Executive Chairman, commented:
"We are pleased to welcome Mark to the Board of Severfield. He brings a wealth of relevant experience having spent a decade as CFO of a FTSE 250 business. His knowledge will be highly beneficial to Severfield as we continue to build on the considerable positive momentum within the business."
ENDS
For further information, please contact:
Severfield Alan Dunsmore 01845 577 896
Chief Executive Officer
Adam Semple 01845 577 896
Chief Financial Officer
Jefferies International Simon Hardy 020 7029 8000
Will Soutar 020 7029 8000
Liberum Capital Nicholas How 020 3100 2000
Ben Cryer 020 3100 2000
Camarco Ginny Pulbrook 020 3757 4980
Tom Huddart 020 3757 4980
Notes to editors:
Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has six sites, c.1,500 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).