REG - Alumasc Group Plc - Chairman succession

AlumascAnnouncement

26/11/2021 07:00

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RNS Number : 6531T  Alumasc Group PLC  26 November 2021

26 November 2021

THE ALUMASC GROUP PLC

("ALUMASC" or 'the Group')

Chairman succession

 

Alumasc, the premium sustainable building products, systems and solutions
group, announces that Vijay Thakrar will take up the role of Non-executive
Chairman of the Group, with effect from 1 January 2022, following the
retirement of John McCall as Chairman and Non-executive Director on 31
December 2021.

Vijay Thakrar joined the Board of Alumasc as an independent Non-executive
director on 15 January 2019. Vijay was previously a partner at Deloitte and EY
before taking up a number of Non-executive director (NED) roles. Vijay is
currently a non-executive director on the Boards of Alpha FX Group plc, RSM
Group and Treatt plc and a member of the Audit & Risk Committee of the
John Lewis Partnership.

Upon being appointed Chairman, Vijay Thakrar will chair the Nomination
Committee and step down as Chair of the Audit Committee, in line with best
practice. A search process for a new Non-executive Director, who will Chair
the Audit Committee is well progressed, and an announcement will be made in
the near future.

Stephen Beechey will be appointed as Chairman of the Remuneration Committee in
succession to Jon Pither who retired on 21 October 2021, with immediate
effect.

John McCall, Chairman of Alumasc, commented:

"I am delighted to announce that Vijay will succeed me as Chairman of Alumasc
in the New Year.  Vijay has substantial board and wide-ranging business
experience from an impressive business and non-executive career covering a
number of large international organisations, as well as extensive knowledge of
the Group.

I am pleased to have served as Alumasc Chairman and to have been part of the
Company's evolution and development. I leave the Board with my full support
and wish them well for the future."

Vijay Thakrar said:

"I am delighted to be taking over as Chair from John and to be working with
the leadership team led by our Chief Executive, Paul Hooper, to continue to
build on the successful growth and leading ESG credentials of the business.
John has been an outstanding Chairman, having founded the business, and he
richly deserves a happy retirement. John's role in guiding Alumasc to its very
solid position today, as a premium sustainable building products company,
cannot be overstated. His business acumen, intellect and ability to read
people has been invaluable and he leaves Alumasc in a very strong position
with really exciting opportunities to further grow value for our
stakeholders."

Paul Hooper, Alumasc Chief Executive said:

"I would like to thank John for the significant contribution he has made to
Alumasc's development and growth during his tenure with our Board.  We will
miss his wise counsel and experience and wish him a long, happy, and healthy
retirement.  I am looking forward to working with Vijay more closely, and the
rest of the Board to develop and implement the Group's strategy."

In accordance with section 430 (2B) of the Companies Act 2006, Alumasc
confirms that no remuneration payment will be made by Alumasc to John McCall
after he ceases to be Chairman and Non-executive Director of the Company, nor
will any payment for loss of office be made.

 

 

Enquiries:

 Paul Hooper, CEO                        + 44 (0)1536 383844

 Helen Ashton, Group Company Secretary

 Peel Hunt (Broker)                      + 44 (0)207 418 8831

 Mike Bell

 Ed Allsopp

 finnCap (NOMAD)                         + 44 (0)207 220 0561

 Julian Blunt

 Camarco

 Ginny Pulbrook                          + 44 (0)203 757 4992

 Daniel Sherwen                          + 44 (0)203 757 4980

                                         Email: alumasc@camarco.co.uk (mailto:alumasc@camarco.co.uk)

 

 

Notes to Editors:

Alumasc is a UK-based supplier of premium building products, systems and
solutions. Almost 80% of Group sales are driven by building regulations and
specifications (developers/housebuilders, architects, and structural
engineers) because of the performance characteristics offered.

 

The Group has three business segments with strong positions and brands in
their individual markets. The three segments are: Building Envelope; Water
Management; and Housebuilding Products.

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