GKN PLC Board changes

 
TIDMGKN 
 
GKN plc Board changes 
 
CHIEF EXECUTIVE 
 
GKN plc announces that Chief Executive Nigel Stein has informed the Board of 
his intention to retire. He will step down from that role on 31 December 2017 
and as a Director on 14 March 2018. Kevin Cummings, currently Chief Executive 
Aerospace, will succeed Nigel as Chief Executive with effect from 1 January 
2018. 
 
Nigel joined GKN in 1994 and became a Board Director in August 2001. During his 
16 years on the Board he held the roles of Group Finance Director and Chief 
Executive Automotive before being appointed Chief Executive from January 2012. 
 
Kevin Cummings joined GKN Aerospace in North America in 2008. He stepped up to 
the role of Chief Executive Aerospace in January 2014 and was appointed to the 
Board in January 2016. Kevin has extensive experience of running a global 
business in GKN. As an existing Board member he also has an excellent and 
in-depth perspective of the GKN Group. 
 
Mike Turner, GKN's Chairman, said: "On behalf of the Board, I would like to 
thank Nigel for the significant contribution that he has made to GKN. During 
his tenure as Chief Executive, Nigel has overseen the transformation of the 
Group, greatly expanding the Aerospace division and moving Driveline into 
electric drive. He has been instrumental in GKN's substantial growth. I would 
like to extend my personal gratitude to Nigel and I'm sure I speak for everyone 
at GKN in wishing him every success for the future. 
 
"Kevin was key to the successful acquisition of Fokker. His contribution since 
being appointed to the Board has been substantial and I am sure he will be an 
excellent successor to Nigel." 
 
FINANCE DIRECTOR 
 
Adam Walker, Group Finance Director since February 2014, has decided to leave 
GKN to take up an opportunity outside of the engineering sector. Adam will step 
down from the Board before the year end, following a full handover to his 
successor. The Board has appointed Jos Sclater to the role of Group Finance 
Director to succeed him. 
 
Jos joined GKN in late 2011 as General Counsel. He has undertaken a number of 
additional roles since that time including acting as Company Secretary from 
2014 to 2016 and Director of Strategy and M&A from 2016. Earlier this year he 
also assumed responsibility for GKN's additive manufacturing activities. 
 
Nigel Stein said: "GKN has excellent market positions, outstanding technology 
and is well positioned to continue its global growth. I am delighted that Kevin 
has been appointed to succeed me. 
 
 "This company has a long history of success based on the efforts of our 
dedicated employees around the world. I thank them greatly for their 
contribution. I would also like to thank Adam for his support over the past 
three and a half years and offer Kevin, Jos and the whole GKN team my best 
wishes for the future." 
 
Kevin and Jos' remuneration will be in line with GKN's remuneration policy as 
agreed by shareholders in May 2017. Details of the leaving arrangements for 
Nigel and Adam will be available shortly on the GKN website. 
 
This announcement contains inside information. 
 
Further Enquiries Analysts/Investors: 
 
Guy Stainer, Investor Relations Director, GKN plc 
 
T: [phone] M: [phone] 
 
E: [e-mail] 
 
Media: 
 
Andrew Lorenz, FTI Consulting 
 
T: [phone] 
 
M: [phone] 
 
Chris Fox, GKN plc 
 
T: [phone] 
 
[e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

September 14, 2017 02:45 ET (06:45 GMT)