REG - Victrex PLC - Directorate change: CEO succession

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RNS Number : 0749Q  Victrex PLC  08 July 2025

 

8 July 2025

Victrex plc

Directorate change: CEO succession

Jakob Sigurdsson to retire as Chief Executive

Dr James Routh appointed as new Chief Executive

Victrex plc, an innovative world leader in high performance polymer solutions,
whose products enable environmental and societal benefit in multiple
end-markets, today announces that Jakob Sigurdsson has notified the Board of
his intention to retire after nearly eight years as Chief Executive. The Board
is pleased to announce that Dr James Routh will join the Company as its new
Chief Executive.

James is currently Chief Executive of AB Dynamics plc, which provides
automated testing, simulation and verification systems for the transportation
sector. He has more than 30 years' experience across international companies
serving end-markets aligned to Victrex, including transportation, aerospace
and defence. The appointment follows a comprehensive search process involving
internal and external candidates.

Timing of the CEO succession

James will succeed Jakob as Chief Executive. He has signed his service
contract, however, a definitive start date has not yet been agreed.  A
further update on timing will be announced separately, once finalised. Jakob
will step down as Chief Executive once James joins the Board, ensuring an
orderly transition.

 

Commenting on the appointment, Vivienne Cox DBE, Chair of Victrex, said:

Retirement of Jakob Sigurdsson

"We are grateful to Jakob for his contribution to Victrex over the past eight
years and we wish him well in his eventual retirement. The Group is now a more
differentiated business, with a culture of innovation, stronger foundations
and well-invested global assets to underpin our growth. Our products are
aligned to global megatrends and there is significant growth potential to
unlock within the Group. With this platform in place, we are well positioned
to improve profitability and outcomes.

Appointment of Dr James Routh

"I am delighted to welcome James as our Chief Executive. He brings a wealth of
significant leadership experience from international manufacturing and
engineering based businesses, all of which are directly aligned to Victrex's
end-markets. James was the standout candidate for the role and we will benefit
from his proven experience in delivering focused growth strategies,
particularly for new and emerging markets, or new technologies.

"During his tenure at AB Dynamics, he has delivered a substantial increase in
revenue and operating profit through both organic and inorganic growth
initiatives and saw significant growth in market capitalisation. With a proven
history of implementing new technologies for commercial success, he has helped
to deliver attractive top and bottom-line growth. The Board believes this
appointment is a strong fit with Victrex and will serve us well."

Commenting on his appointment as Chief-Executive, Dr James Routh said:

"I am excited and proud to be appointed Chief Executive of such a highly
regarded global company. The Group has strong growth drivers and very
attractive end-market positions. I look forward to working with the Board,
senior leadership, the wider Victrex team and our customers and partners, to
enhance delivery in our key end-market segments and realise the strong growth
potential of the business over the coming years."

 

This announcement includes information required by UK Listing Rules 6.4.6 to
6.4.8 and there is no information to report under Listing Rule 6.4.8R (2) -
(6) inclusive in relation to James Routh.  A further announcement under
Listing Rule 6.4.7 will be made as soon as the date of joining has been
finalised.

 

This announcement contains inside information. The person responsible for
distribution of this announcement is Jane Brisley, General Counsel &
Company Secretary.

 

Notes:

1/ Prior to joining AB Dynamics, James Routh was Group Managing Director at
FTSE 100 listed Diploma PLC for six years where he delivered a series of
successful international acquisitions. His previous career involved
engineering leadership positions predominantly in the aerospace and defence
industry, including senior roles at Chemring Group PLC and Cobham PLC. James
holds a PhD in Materials Engineering and is a Chartered Mechanical Engineer
and Fellow of the Institution of Mechanical Engineers.

James' base salary will be £600,000. He will participate in the company's
bonus and long-term incentive arrangements in accordance with the Company's
remuneration policy. His notice period of 12 months is in line with normal
Executive director policy.

James is a Non-Executive Director and Senior Independent Director of Tracsis
plc, which provides software and technology for the rail and wider
transportation industries.

2/ Jakob Sigurdsson will continue to be paid in line with the Company's
remuneration policy. He will be designated as a good leaver on his retirement
date of 7 July 2026.

 

Victrex plc:

 Andrew Hanson, Director of Investor Relations, Corporate Communications &      +44 (0) 7809 595831
 ESG
 Jakob Sigurdsson, Chief Executive                                              +44 (0) 1253 897700
 Ian Melling, Chief Financial Officer                                           +44 (0) 1253 897700

 

 

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions,
focused on the strategic markets of Automotive, Aerospace, Energy &
Industrial, Electronics and Medical. Every day, millions of people rely on
products or applications which contain our sustainable materials, from
smartphones, aeroplanes and cars to oil & gas operations and medical
devices. With over 40 years' experience, we are moving beyond the polymer into
semi-finished and finished products which shape future performance for our
customers and our markets, enable environmental and societal benefit for our
customers and drive value for our shareholders. Find out more at
www.victrexplc.com (http://www.victrexplc.com)

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