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Share Name Share Symbol Market Type Share ISIN Share Description
Renold Plc LSE:RNO London Ordinary Share GB0007325078 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 13.55 12.60 14.30 0.00 08:00:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 189.4 8.2 0.8 16.9 30

Renold PLC Appointment of Non-Executive Director

20/11/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 9438F

Renold PLC

20 November 2020

Renold plc

("Renold", the "Company" or the "Group")

Appointment of Non-Executive Director

20 November 2020

Renold, a leading international supplier of industrial chains and related power transmission products, is pleased to announce the appointment of Andrew Magson to the Board as a Non-Executive Director with effect from 1 December 2020. Andrew will also be appointed to the Audit, Remuneration and Nomination Committees.

Andrew, aged 54, has significant experience in senior finance roles in multinational manufacturing businesses, most recently at The Alumasc Group plc where he was the Chief Financial Officer from 2006 to 2020. He qualified as a Chartered Accountant in 1992 with PwC before moving into industry at BPB Plc, where he became Group Financial Controller.

Andrew's appointment forms part of Renold's succession planning process for the Board. As previously announced, it is intended, that following Mark Harper's resignation as Chairman of the Company after the 2021 Annual General Meeting, David Landless will step down as Chair of Audit Committee to take up the post of Chairman of the Company. Subject to his re-election at the 2021 AGM, it is proposed that Andrew will then be appointed Chairman of the Audit Committee.

Mark Harper, Chairman of Renold plc commented:

"I am delighted to welcome Andrew to the Group and pleased that the Board succession plan is progressing smoothly. He has highly relevant manufacturing sector and board level financial experience, including pension scheme management, and he will be an invaluable addition to the Renold Board."

ENQUIRIES:

 
 Renold plc                             0161 498 4500 
 Robert Purcell, Chief Executive 
 Jim Haughey, Group Finance Director 
 
 Peel Hunt                              0207 418 8831 
 Mike Bell 
  Ed Allsopp 
 
 Instinctif Partners                    0207 457 2020 
 Mark Garraway 
 Rosie Driscoll 
 

Disclosures required by Schedule Two, paragraph (g) of the AIM Rules for Companies:

 
 Current directorships   Directorships held in the last five years 
----------------------  --------------------------------------------- 
 None                    Alumasc Building Products Limited 
                          Alumasc DD Limited 
                          Alumasc Dispense Limited 
                          Alumasc Interior Building Products Limited 
                          Alumasc Limited 
                          Alumasc Precision Limited 
                          Benjamin Priest Limited 
                          Blackdown Horticultural Consultants Limited 
                          Doranda Limited 
                          Elkington Gatic Limited 
                          Levolux A.T. Limited 
                          Levolux Limited 
                          Roof-Pro Limited 
                          Scaffold & Construction Products Limited 
                          Sure-Foot Supports Limited 
                          The Alumasc Group plc 
                          The Green Building Products Company Limited 
                          Timloc Building Products Limited 
                          Wade Drainage Products LTD 
                          Wade International (UK) Limited 
                          Wade International Limited 
 

Save as set out above, there are no further disclosures required pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

NOTES FOR EDITORS

Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well-deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.

Further information about Renold can be found on the website at: www.renold.com

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END

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November 20, 2020 02:00 ET (07:00 GMT)

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