REG - Gooch & Housego PLC - Board Succession <Origin Href="QuoteRef">GHH.L</Origin>

Gooch & HousegoAnnouncement

29/10/2014 09:41

RNS Number : 1002O
Gooch & Housego PLC
04 August 2014
For immediate release
4 August 2014
Gooch & Housego PLC
("Gooch & Housego" or the "Company")
Board Succession
Gooch & Housego PLC, the specialist manufacturer of optical components and systems, today announces the following forthcoming changes to its Board of Directors to ensure the orderly succession of its senior management team.
Mark Webster, a Non-Executive Director of the Company for the past two and a half years, is being appointed to the executive role of Deputy CEO in preparation for Gareth Jones to relinquish his role of Chief Executive Officer, which he has held since 2003.
Mark has extensive business, management and leadership experience, which includes senior roles at Abbott Laboratories, Shire Pharmaceuticals and Bayer Healthcare and most recently as CEO of Bio Products Laboratory. Mark will begin as Deputy CEO on 18th August 2014.
Gareth will assist Mark in an orderly handover of duties and it is anticipated that Mark will take over as Chief Executive Officer on 1st January 2015.
Dr Julian Blogh, having been Non-Executive Chairman for eight years, is approaching the recommended limit of tenure and will retire at the beginning of next year. For a period of no more than three years, Gareth will be appointed Non-Executive Chairman thereby ensuring that Gooch & Housego continues to benefit from his extensive knowledge of the business, and of the photonics industry, during this period of Board succession. Gareth will take over as Non-Executive Chairman with effect from Julian's retirement on 1st January 2015.
Gareth Jones commented:
"I would like to thank Julian Blogh, both personally and on behalf of Gooch & Housego, for his wisdom and guidance as Chairman over the past eight years, during which time the Company has developed significantly. I am also pleased that Mark Webster, who has gained an excellent knowledge of the business as a Non-Executive Director, will shortly be taking over from me as CEO. His extensive experience in leadership roles in UK, US and multi-national businesses will be of great value in the future development of the Company. Finally, I am honoured to have been given the opportunity tocontinue to contribute to the success of G&H in the role of Non-Executive Chairman, and to bring continuity during this period of change."
Mark Webster commented:
"I feel privileged to be given the opportunity to take over the CEO role at an exciting time in Gooch & Housego's development. G&H has a dedicated and highly skilled workforce and I am looking forward to working with them all to take the business forward. I am also pleased that the strong working relationship I have developed with Gareth over the past two and half years as a member of the Company's Board will continue with his new role as Non-Executive Chairman."
For further information, please contact:
Gooch & Housego PLC
Gareth Jones / Andrew BotelerTel: 01460 256440
Buchanan
Mark Court / Gabriella Clinkard Tel: 020 7466 5000
Investec Bank plc (NOMAD & Broker)
Patrick Robb / David Anderson Tel: 020 7597 4000

This information is provided by RNS
The company news service from the London Stock Exchange
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