REG - Coats Group PLC - Board Changes

CoatsAnnouncement

03/05/2022 07:16

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RNS Number : 9788J  Coats Group PLC  03 May 2022

3 May 2022

Coats Group plc

Board Changes

 

Coats Group plc ("Coats" or the "Company"), the world's leading industrial
thread company, announces that it has received notice from Anne Fahy,
Non-Executive Director ("NED") of the Company, of her intention not to stand
for re-election at forthcoming Annual General Meeting (the "AGM"). Anne will
attend the Board and Committee meetings to be held on 17th and 18th May 2022
in her capacity as NED and Chair of the Audit and Risk Committee.

As the Company's Notice of AGM has already been issued, the Company confirms
that the resolution to re-elect Anne Fahy as a NED of the Company (Resolution
6) is now withdrawn. The withdrawal of Resolution 6 does not otherwise affect
the validity of the Notice of AGM, or any proxy votes already submitted on
other proposed resolutions. The numbering of all other proposed resolutions at
the AGM will remain unchanged.

As a result of Anne's decision, Nicholas Bull, FCA, will be appointed as Chair
of the Audit and Risk Committee with effect from 19th May 2022. Nicholas was
appointed as a NED and Senior Independent Director of Coats in April 2015, and
has been a member of the Audit and Risk Committee since then. Nicholas brings
extensive financial experience through both his current appointment as Chair
of Fidelity China Special Situations PLC, as well as from his previous roles
with de Vere Group Limited, Société Générale, Morgan Grenfell and ABN
Amro.

Coats will announce a scheduled Trading Update alongside the AGM on 18th May
as planned.

 

David Gosnell, Chair, commented:

"Since her appointment in 2018, Anne's wealth of experience has helped guide
Coats' continued growth and to navigate through the challenges of a global
pandemic. On behalf of the Board, I would like to thank Anne for her valued
contribution to the Company over many years. We wish her well for the future."

 

 Enquiry details

 Investors         Nick Kidd                       Coats Group plc  +44 (0)20 8210 5090
 Media             Richard Mountain / Nick Hasell  FTI Consulting   +44 (0)20 3727 1374

 

About Coats Group plc

Coats is the world's leading industrial thread company. At home in some 50
countries, Coats has a workforce of over 18,000 people across six continents.
Revenues in 2021 were US$1.5bn. Coats provides complementary and value-adding
products, services and software solutions to the apparel and footwear
industries. It also applies innovative techniques to develop high technology
performance materials threads, yarns, fabrics and composites in areas like
personal protection, telecoms, energy, transportation, and household and
recreation. Headquartered in the UK, Coats is a constituent of the FTSE 250
and FTSE4Good Index Series. It is a participant in the UN Global Compact, a
member of the Ellen MacArthur Foundation, has approved short term Science
Based Targets to 2030 and is committed to developing a long-term target to
reach net-zero emissions by 2050, the highest level of ambition on climate
change under the Science Based Target initiative. The pioneering history and
innovative culture of Coats enable the delivery of its purpose to connect
talent, textiles and technology to make a better and more sustainable world.
For further information go to www.coats.com (http://www.coats.com) .

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