Devro PLC Directorate Change (8741Y)

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RNS Number : 8741Y

Devro PLC

11 December 2017

Devro plc

Directorate Change

Rutger Helbing to succeed Peter Page as Chief Executive

Devro plc ("Devro" or the "Group") announces that, after 10 years with the Group, Peter Page has agreed with the Board that he will step down from his role as Chief Executive after the announcement of the Group's 2017 Full Year Results on 27 February 2018. Rutger Helbing, currently Group Finance Director, will succeed Peter Page as Chief Executive on 28 February 2018, when Peter Page will leave the Board. To ensure an orderly transition, Peter Page will continue to be available in an advisory capacity as needed. A search for Rutger Helbing's successor has commenced and an announcement regarding this appointment will be made in due course.

Rutger joined Devro as Group Finance Director in April 2016. Prior to joining the company, he was Group Chief Financial Officer of Element Six, the global leader in manufacturing synthetic diamond supermaterials. Previously, Rutger held senior positions in finance and general management with ICI/Akzo Nobel and Unilever. Rutger is a Dutch national with a postgraduate degree in finance from the Free University, Amsterdam, and a degree in economics from Erasmus University.

The Nomination Committee undertook a thorough process to identify the most suitable individual to replace Peter, considering both external and internal candidates, before deciding Rutger was the appropriate person to take up the role of Chief Executive.

Gerard Hoetmer, Chairman, commented:

"Peter has made a huge contribution to Devro during the last 10 years, turning the Company into one of the world's leading suppliers of collagen casings for food, with a network of world-class manufacturing facilities. He will leave with our best wishes and we wish him every success with the next steps of his career. We are delighted to have someone of Rutger's calibre to succeed Peter and we are happy that, after having worked together for almost two years, there will be a smooth transition of leadership."

This announcement contains inside information.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 11, 2017 02:00 ET (07:00 GMT)