Genus PLC Genus Chief Executive Transition (8056T)

TIDMGNS

RNS Number : 8056T

Genus PLC

25 March 2019

For Immediate Release 25 March 2019

Genus plc

('Genus', or the 'Company')

Genus Chief Executive Transition

Genus plc (LSE: GNS), a leading global animal genetics company, announces that Karim Bitar, Chief Executive Officer, will be stepping down from the Board from 16 September 2019. Karim will be taking the Chief Executive Officer position at ConvaTec Group Plc from 30 September 2019. Karim has committed to remain with Genus and continue in his role until 16 September, to achieve an orderly succession and transition process, while continuing to drive business performance.

"During Karim's eight years at Genus as Chief Executive, the Company has been transformed into a world-leading animal genetics company, truly fulfilling its vision to pioneer animal genetic improvement to help nourish the world. He has led the Company's transformation and is leaving the Company in excellent shape with a world-class leadership team, world-class genetics and innovative technology platforms to enable us to pursue many exciting global opportunities," said Bob Lawson Chair of Genus. "His legacy is the creation of an outstanding global team that will sustain the Company's growth, while serving customers with an unparalleled range of products and services. Karim has provided the Company with many years of strong leadership, and the Board and I remain excited by the Company's future prospects. On behalf of the Board and all at Genus, I wish Karim well for the future and thank him for his considerable contribution during his time with the Company."

Karim Bitar said "It has been a great privilege to lead such a talented group of people and develop a leading global agricultural biotechnology company focused on animal genetics. Genus is in a very strong strategic and financial position, with significant growth prospects and I will miss the team tremendously when I eventually leave in September."

The Board has commenced a search to identify his successor and a further announcement will be made in due course.

For further information please contact:

 
Genus                              Tel: [phone] 
                                    345970 
Bob Lawson, Chair 
Stephen Wilson, Group Finance 
 Director 
Buchanan                           Tel: [phone] 
                                    5000 
Charles Ryland /Chris Lane/Sophie 
 Wills 
 

This announcement is available on the Genus website www.genusplc.com

About Genus

Genus is a world-leading animal genetics company. Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.

Genus's worldwide sales are made in over seventy-five countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chains.

The Group's competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in over twenty-five countries on six continents, with research laboratories located in Madison, Wisconsin, USA.

Regulatory Notes

Details of Karim Bitar's terms of departure are still to be finalised. Any such terms will be consistent with the Company's approved Directors Remuneration Policy. Details of any payments to be made to Karim will be posted on the Company's website, in accordance with section 430(2B) Companies Act 2006. This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014. The person responsible for making this announcement on behalf of the Group is Dan Hartley (General Counsel and Company Secretary).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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March 25, 2019 03:01 ET (07:01 GMT)