Diploma PLC Directorate Change (8830R)

TIDMDPLM

RNS Number : 8830R

Diploma PLC

27 September 2017

DIPLOMA PLC

12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX

TELEPHONE: [phone]

FACSIMILE: [phone]

FOR IMMEDIATE RELEASE

27 September 2017

 
                            DIPLOMA PLC 
 
               RETIREMENT OF CHIEF EXECUTIVE OFFICER 
 
 
         Diploma PLC, the international group of businesses 
       supplying specialised technical products and services, 
          today announces that Bruce Thompson has informed 
        the Board that he plans to retire as Chief Executive 
           Officer before the end of September 2018. The 
           notice given ensures that there is sufficient 
          time to allow a thorough search process to take 
         place and a smooth transition of responsibilities. 
 
          Bruce Thompson joined the Group in 1994 as Group 
           Director of Diploma's Electronics Division. He 
           was appointed Chief Executive Officer in 1996 
       and led a major restructuring of the Group, divesting 
          the three traditional core businesses, returning 
          cash to shareholders and re-focusing the Group. 
           Since emerging from this restructuring in the 
         early 2000's, the Group has followed a consistent 
        strategy, building larger, broader based businesses 
         in its chosen sectors by combining steady GDP-plus 
          organic growth compounded by carefully selected 
           value-enhancing acquisitions. Over the last 15 
         years, the Group has delivered strong double-digit 
           growth in earnings, dividends and share price 
        and has grown market capitalisation from ca. GBP60m 
                          to ca. GBP1.2bn. 
 
         John Nicholas, Chairman of Diploma PLC, commented: 
          "Bruce has been an outstanding leader of Diploma 
          PLC during his 21 years as Chief Executive. The 
           Group has gone from strength to strength under 
          his careful stewardship and Bruce will continue 
          to provide strong leadership for the Group over 
          the coming financial year, as the Group manages 
         the transition to new leadership, while continuing 
                to deliver its consistent strategy." 
 
           Bruce Thompson said: "I am very confident that 
         I will be leaving the Group with a clearly defined 
         and sustainable strategy with a substantial runway 
          for further growth. I am also very pleased that 
          the Group has in place a strong and experienced 
          senior management team to deliver this strategy 
               under the Group's future leadership." 
 
 
 
         1. A copy of this Statement, together with further 
          information about Diploma PLC, may be viewed on 
                 its website at www.diplomaplc.com 
 
                                         [phone] 
                  Diploma PLC -               5700 
                       John Nicholas, Chairman 
                      Anthony Gallagher, Group 
                          Company Secretary 
 
                                         [phone] 
                  Tulchan Communications -    4200 
                           Martin Robinson 
                           David Allchurch 
 
 
 
 
                          NOTE TO EDITORS: 
 
        Diploma PLC is an international group of businesses 
       supplying specialised technical products and services 
        to the Life Sciences, Seals and Controls industries. 
 
           Diploma's businesses are focussed on supplying 
          essential products and services which are funded 
           by the customers' operating rather than their 
          capital budgets, providing recurring income and 
                       stable revenue growth. 
 
        Our businesses then design their individual business 
          models to closely meet the requirements of their 
        customers, offering a blend of high quality customer 
          service, deep technical support and value adding 
           activities. By supplying essential solutions, 
     not just products, we build strong long term relationships 
          with our customers and suppliers, which support 
                attractive and sustainable margins. 
 
          Finally we encourage an entrepreneurial culture 
       in our businesses through our decentralised management 
         structure. We want our managers to feel that they 
           have the freedom to run their own businesses, 
       while being able to draw on the support and resources 
          of a larger group. These essential values ensure 
           that decisions are made close to the customer 
          and that the businesses are agile and responsive 
     to changes in the market and the competitive environment. 
 
           The Group employs ca. 1,700 employees and its 
           principal operating businesses are located in 
       the UK, Northern Europe, North America and Australia. 
 
       Over the last ten years, the Group has grown adjusted 
          earnings per share at an average of ca. 13% p.a. 
     through a combination of organic growth and acquisitions. 
         Diploma is a member of the FTSE 250 with a market 
                  capitalisation of ca. GBP1.2bn. 
 
          Further information on Diploma PLC can be found 
                       at www.diplomaplc.com 
 
 
                      LEI: 2138000G17VY8FGR19 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 27, 2017 02:01 ET (06:01 GMT)