REG - TI Fluid Systems PLC - Directorate Change

TI Fluid SystemsAnnouncement

07/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220607:nRSG8795Na&default-theme=true

RNS Number : 8795N  TI Fluid Systems PLC  07 June 2022

7 June
2022

 

TI Fluid Systems plc

(the "Company")

 

Directorate and Committee Changes

 

 

The Board of TI Fluid Systems plc is pleased to announce the appointment of
Jane Lodge as an Independent Non-Executive Director of the Company effective 6
June 2022. She will also chair the Company's Audit & Risk Committee.

 

Jane currently chairs the audit committees at FirstGroup plc and Bakkavor plc
and chairs the remuneration committee at Glanbia plc.  During the past ten
years, Jane has also served on the boards of other leading companies in the
FTSE 100 and 250 indices, including DCC plc, Costain Group plc, Devro plc, and
Sirius Minerals plc.  From 1976 to 2011, Jane held various management and
leadership roles at Deloitte LLP, becoming a partner in 1986.  As a lead
audit partner, she worked predominately with multi-national businesses in the
manufacturing, engineering, and industrial sectors, including a global
automotive OEM.

In conjunction with Jane's appointment and the Board's previously announced
transition plan, Jeff Vanneste has stepped down from the Board effective 6
June 2022.

 

Tim Cobbold, the Company's Non-Executive Chairman, said:

 

"We are delighted to welcome Jane Lodge to our Board. She brings with her
extensive boardroom knowledge, audit and financial expertise and a broad
understanding of the manufacturing industry, all of which will further
strengthen and enhance the capabilities of our Board. We look forward to
working with her.

 

I would also like to thank Jeff Vanneste for his service and many
contributions to the Company.  The entire Board wishes him well on his future
endeavours."

 

 

In addition, the Board has approved the following changes to the composition
of its committees with effect from 6 June 2022:

 

Audit & Risk Committee

 

Jane Lodge has been appointed  to the Committee and will serve as Chair
(replacing Jeff Vanneste). The Audit & Risk Committee composition will,
therefore, be Jane Lodge (Chair), John Smith and Elaine Sarsynski.

 

Nomination Committee

 

Julie Baddeley has been appointed to the Committee (replacing Manfred
Wennemer), and Tim Cobbold will serve as Chair.  The Nomination Committee
composition will, therefore, be Tim Cobbold (Chair), Julie Baddeley and
Stephen Thomas.

 

Remuneration Committee

 

Julie Baddeley and Jane Lodge have been appointed to the Committee (replacing
Jeff Vanneste and Tim Cobbold), and John Smith will serve as Chair.  The
Remuneration Committee composition will, therefore, be John Smith (Chair),
Julie Baddeley and Jane Lodge.

 

ESG Steering Committee

 

Susan Levine has been appointed to the Committee. The ESG Steering Committee
composition will, therefore, be Elaine Sarsynski (Chair), Julie Baddeley,
Susan Levine, Hans Dieltjens and Ron Hundzinski.

 

 

The Nomination Committee continues the process to recruit another independent
non‑executive director to ensure the Board maintains a broad mix of market
knowledge and relevant experience to support the Company's strategic aims and
the Board's management objectives.  In connection with that process, the
composition of the Nomination Committee remains under review and is likely to
change further once another independent non‑executive director is appointed
to the Board.  More detail will be made available as appropriate.

 

 

 

Enquiries:

 

TI Fluid Systems plc

Pilar Riesco

Investor Relations

Tel: +34 607 577 830

 

FTI Consulting

Richard Mountain

Nick Hasell

Tel: +44 (0) 20 3727 1340

 

 

About TI Fluid Systems plc

 

TI Fluid Systems plc, (LSE: TIFS) is a leading global manufacturer of highly
engineered automotive fluid storage, carrying and delivery systems primarily
for the light duty automotive market. With nearly 100 years of automotive
fluid systems experience, TI Fluid Systems has manufacturing facilities in 104
manufacturing locations across 29 countries serving all major global OEMs.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAUPUBGQUPPGCQ