8 Jun 2016 07:00
8 June 2016
Fenner PLC("Fenner" or "the Group")
Board Changes
Fenner PLC announces that Nicholas Hobson, CEO, has stepped down from the Board with immediate effect, and will be leaving the Group after serving his contractual notice period. Nick will be on garden leave for the period of notice to enable him to continue with treatment for his ill health. Nick took a leave of absence from the Company at the beginning of January 2016 to start medical treatment and Mark Abrahams has led the executive function as Executive Chairman since that time.
Nick will be in receipt of his contractual benefits for the duration of the notice period and be treated as a Good Leaver under the terms of the long term performance share plans, pro- rated to the date his notice period starts.
The Board would like to extend its thanks to Nick for his many years of valued service with the Group and wish him well in his recovery.
The Board has commenced processes to identify external candidates for the positions of CEO and non-executive chair. Until a permanent CEO is identified, Mark Abrahams has agreed to step back into the role of CEO and relinquish his chairmanship of the Company. Vanda Murray has agreed to step in as acting Non-Executive Chair.
ENDS
For further information please contact:
Fenner PLC | |
Mark Abrahams, Chief Executive | 01482 626500 |
Weber Shandwick Financial | |
Nick Oborne / Tom Jenkins | 020 7067 0700 |
Notes to editors:
Fenner PLC is a world leader in reinforced polymer technology, providing local engineered solutions for performance‐critical applications.