Low & Bonar PLC Chairman succession (1252X)

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RNS Number : 1252X

Low & Bonar PLC

08 August 2018

LEI213800CALFKOEL7N7P10

Low & Bonar PLC

("Low & Bonar" or the "Company")

Chairman succession

Low & Bonar today announces that, after eight years as Chairman and 11 years as a Director of the Company, Martin Flower has notified the Board of his intention to retire and will step down from the Board with effect from 11 September 2018. The Board is pleased to announce that Daniel Dayan will join the Company on 11 September 2018 as non-executive Chairman.

Daniel Dayan has extensive experience within the global polymer technology sector. He was appointed Group Chief Executive Officer of Klöckner Pentaplast Group ("KP") in November 2017 and was Chairman and Chief Executive Officer of LINPAC Packaging from 2015 until its acquisition by KP in 2017. From 2014 to 2016 he was non-executive Chairman of the Nonwovens Innovation and Research Institute Ltd and from 2005-2013 was CEO of global non-woven fabrics producer, Fiberweb plc.

Daniel Dayan is currently a non-executive director and chairman of the remuneration committee at Chemring plc ("Chemring"). Having accepted the role at Low & Bonar, he has notified Chemring that he will step down from this position and leave the board as soon as a suitable replacement is appointed.

Trudy Schoolenberg, Senior Independent Director, commented:

"We are delighted to welcome Daniel Dayan to the Board and look forward to working together.

On behalf of the whole Board, I would like to express my thanks and appreciation to Martin for his wise counsel and committed service to Low & Bonar during the past 11 years. He will be missed by all of us, and we wish him a long and happy retirement."

Martin Flower said:

"It has been a pleasure to lead the Board of Low & Bonar. Despite the current challenges, Low & Bonar is a high-quality business with opportunities for profitable growth. I wish the Company well."

Daniel Dayan commented:

"Low & Bonar has considerable potential to develop and create value. I look forward to getting to work immediately with the Board as it continues to develop and implement Low & Bonar's strategy to deliver sustainable, profitable growth."

There are no further disclosures required pursuant to paragraphs 9.6.11 to 9.6.13 of the Listing Rules.

For further information, please contact:

 
Low & Bonar PLC                                   020 7535 3180 
Trudy Schoolenberg, Senior Independent Director 
Instinctif Partners                               020 7457 2020 
Matthew Smallwood 
 Helen Tarbet 
 Rosie Driscoll 
 

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August 08, 2018 02:01 ET (06:01 GMT)