Last checked at 3 Sep 2009 11:48
GUINNESS PEAT GROUP PLC
Change of CEO at Coats ("the company")
Guinness Peat Group plc announces that Mike Smithyman, Chief Executive Officer of Coats plc, will retire from the company with effect from 31 December 2009.
Gary Weiss, Coats Chairman and Executive Director of Guinness Peat Group plc said, "We thank Mike for his invaluable contribution in leading Coats through its major restructuring and creating a modern business that can prosper in these very challenging times. On behalf of Coats, I wish Mike a very happy retirement".
Paul A Forman is appointed Chief Executive Officer.
Paul is currently Group Chief Executive of Low & Bonar plc, a global manufacturer, quoted on the London Stock Exchange, that supplies polymer-based high performance materials to a broad range of end markets.
Prior to his current role, Paul held positions of increasing responsibility at Bain and Company, BZW, The Kalchas Group, Caradon plc, and Unipart Group.
Gary Weiss said, "We are very pleased with Paul's appointment as he brings with him a portfolio of skills well suited to continue the process of developing Coats. He will join in mid-November providing for a smooth and orderly transition from Mike before his retirement".
Richard Russell
Company Secretary
Guinness Peat Group plc
Tel: +44 207 484 3370
3 September 2009