REG - ConvaTec Group PLC - Board of Directors and Shareholder update

ConvaTecAnnouncement

08/09/2023 07:00

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RNS Number : 7872L  ConvaTec Group PLC  08 September 2023

This announcement contains inside information

 

Board of Directors and Shareholder update

 

Convatec Group PLC (the 'Company') announces that it has agreed, with Novo
Holdings A/S, to end the relationship agreement entered into when Novo
Holdings acquired their stake in the Company. Consequently, Sten Scheibye
will be stepping down from the Board.  These changes will take effect from
today.

 

Novo Holdings said "Given the increasing momentum in Convatec's growth and
margin trajectory and the high regard and confidence we have in management, we
no longer feel a need to occupy a board position at the Company. As
shareholders, we are very excited by the opportunity we see for further value
creation by the Company."

 

Commenting on behalf of the Board, the Chairman John McAdam said "Sten has
been a valued member of the Board over the last five years and on behalf of
the Group I would like to extend our thanks for his contribution and insights.
Novo Holdings remains an important shareholder in Convatec and we look forward
to continuing our relationship and dialogue."

 

Sten Scheibye commented "I have very much enjoyed my time on Convatec's
Board.  The Group has a clear strategy and strong management team.  I have
no doubt that the Company will continue to make significant progress in the
future."

 

The person responsible for making this announcement is Robyn Butler-Mason,
Company Secretary.

 

 LEI Code:                                                                                          213800LS272L4FIDOH92

 Contacts

Analysts & Investors      Kate Postans, Vice President of Investor Relations & Corporate                 +44 (0) 7826 447807
              Communications

                                        +44 (0) 7805 011046
              Sheebani Chothani, Investor Relations & Corporate Communications Manager

                                                      ir@convatec.com (mailto:ir@convatec.com)
 Media                     Buchanan: Charles Ryland / Chris Lane                                          +44 (0)207 466 5000

 

 About Convatec

 Pioneering trusted medical solutions to improve the lives we touch: Convatec
 is a global medical products and technologies company, focused on solutions
 for the management of chronic conditions, with leading positions in advanced
 wound care, ostomy care, continence care and infusion care. With around 10,000
 colleagues, we provide our products and services in almost 100 countries,
 united by a promise to be forever caring. Our solutions provide a range of
 benefits, from infection prevention and protection of at-risk skin, to
 improved patient outcomes and reduced care costs. Group revenues in 2022 were
 over $2 billion. The company is a constituent of the FTSE 100 Index
 (LSE:CTEC). To learn more about Convatec, please visit
 http://www.convatecgroup.com (http://www.convatecgroup.com)

 

About Convatec

Pioneering trusted medical solutions to improve the lives we touch: Convatec
is a global medical products and technologies company, focused on solutions
for the management of chronic conditions, with leading positions in advanced
wound care, ostomy care, continence care and infusion care. With around 10,000
colleagues, we provide our products and services in almost 100 countries,
united by a promise to be forever caring. Our solutions provide a range of
benefits, from infection prevention and protection of at-risk skin, to
improved patient outcomes and reduced care costs. Group revenues in 2022 were
over $2 billion. The company is a constituent of the FTSE 100 Index
(LSE:CTEC). To learn more about Convatec, please visit
http://www.convatecgroup.com (http://www.convatecgroup.com)

 

 

 

 

 

 

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