Renold PLC Appointment of new Finance Director (0060J)

TIDMRNO

RNS Number : 0060J

Renold PLC

06 September 2016

Renold plc

("Renold", "the Company" or "the Group")

Appointment of new Finance Director

Renold, a leading international supplier of industrial chains and related power transmission products, announces that Ian Scapens will join the Board as Group Finance Director.

Ian (42) has extensive experience in all aspects of finance in large complex organisations. He joins Renold from Keepmoat Group, the UK's leading national provider of social housing refurbishment and regeneration services and a developer of low-cost, affordable housing, where he has been Deputy Chief Financial Officer since June 2015. Previously, Ian spent 10 years at Speedy Hire Plc, the UK's leading tools, equipment and plant hire services company, latterly as Group Financial Controller in the UK, from 2010 to 2015. Ian will join the Company directly upon release from his current employment which will not be later than 3 January 2017.

Further to the announcement on 20 July 2016 that Brian Tenner had informed the Board of his intention to leave Renold in order to pursue other opportunities, the Board has now agreed that Brian can leave the Company with effect from 18th November 2016, following the interim results on 15 November 2016.

Mark Harper, Chairman, said:

"We are delighted that Ian will be joining Renold. He brings with him a wealth of relevant experience which will stand us in good stead as we continue to implement our Step 2020 strategy.

"We'd like to reiterate our thanks to Brian for his substantial contribution to Renold, improving business performance, rationalising operations, de-risking the pension fund and improving cash and treasury management. We wish him and his family all the very best for the future."

There are no other disclosures to be made pursuant to paragraph 9.6.13 of the Listing Rules.

6 September 2016

ENQUIRIES:

 
 Renold plc                         0161 498 4500 
 Robert Purcell, Chief Executive 
 Brian Tenner, Finance Director 
 
 Arden Partners                     020 7614 5917 
 Chris Hardie 
 
 Instinctif Partners                020 7457 2020 
 Mark Garraway 
 Helen Tarbet 
 

NOTES FOR EDITORS

Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.

Further information about Renold can be found on the

This information is provided by RNS

The company news service from the London Stock Exchange

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September 06, 2016 02:01 ET (06:01 GMT)