Tyman PLC Board Changes (5504O)

TIDMTYMN

RNS Number : 5504O

Tyman PLC

08 November 2016

TYMAN PLC

("Tyman" or the "Group")

Board Changes

Tyman, a leading international supplier of engineered components to the door and window industry, announces that Jamie Pike, the Group's Non-executive Chairman, has indicated his intention to step down as Chairman and as a Director of Tyman due to his increasing plc commitments elsewhere. Accordingly, Jamie will leave the Board following the next Group AGM, expected to be held in May 2017.

The search for a successor to Jamie has been led by Mark Rollins, Chairman of the Group's Remuneration Committee, in conjunction with a leading executive search firm.

Following completion of the search the Board is pleased to announce that Martin Towers, currently the Group's Senior Independent Director and Chairman of the Group's Audit Committee, has been appointed Chairman designate and will succeed Jamie as

Non-executive Chairman of Tyman following the 2017 AGM.

In light of the selection of Martin Towers as Chairman designate, Mark Rollins has agreed to take on the role of Senior Independent Director with effect from today.

An announcement regarding a successor to Martin Towers as Chairman of the Group's Audit Committee will be made in due course.

Board Composition

The composition of the Group Board is now as follows:

 
 Jamie Pike             Non-executive Chairman 
 Martin Towers          Non-executive Director 
                         Chairman designate 
                         Audit Committee Chairman 
 Louis Eperjesi         Chief Executive Officer 
 James Brotherton       Chief Financial Officer 
 Mark Rollins           Non-executive Director 
                         Senior Independent Director 
                         Remuneration Committee 
                         Chairman 
 Angelika Westerwelle   Non-executive Director 
 

Jamie Pike said:

"After seven years as Chairman of Tyman this is the right time for me to step down from the Board. I am pleased that Martin will succeed me as Chairman and am confident that his skills and experience will make a significant contribution to the future development of the Group."

Martin Towers said:

"On behalf of the Board I would like to thank Jamie for his commitment to Tyman over the past seven years, a period during which the Group has made considerable progress. I am delighted to have been invited to become Chairman and I look forward to working with the executive team to continue to develop and grow the Group."

8 November 2016

Enquiries:

 
 Tyman plc                                      020 7976 8000 
 Carolyn Gibson - Group Company Secretary    www.tymanplc.com 
 
 MHP Communications                             020 3128 8100 
 Reg Hoare 
 Jamie Ricketts 
 Nessyah Hart 
 

Notes to editors

Martin Towers

Martin Towers was appointed as a non-executive Director of Tyman plc in December 2009 and was chief executive of Spice plc until its sale to Cinven in December 2010. Previously, Martin was group finance director of Kelda Group plc from 2003 until February 2008. He is a fellow of the ICAEW and began his career with Coopers & Lybrand before moving to the retailer Ward White Group plc. Martin has served as group finance director of McCarthy & Stone plc, The Spring Ram Corporation plc and Allied Textile Companies plc. He was a non-executive director of Homestyle Group plc from 2004 to 2006 and of KCOM Group plc from 2009 to July 2015.

Martin is currently a Non-executive Director and Senior Independent Director of RPC Group plc and Non-executive Chairman of Norcros plc.

Tyman plc

Tyman plc is a leading international supplier of engineered components to the door and window industry. The Group's three Divisions - AmesburyTruth, ERA and Schlegel International - are market leaders in their respective geographies.

Following the acquisitions of Bilco, Giesse and Response the Group employs over 3,500 people and operates facilities in 19 countries worldwide. Tyman is listed on the London Stock Exchange under the ticker TYMN.

Further information on the Group and the Group's products is available at www.tymanplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 08, 2016 02:01 ET (07:01 GMT)