REG - Zotefoams PLC - Group CEO succession

ZotefoamsAnnouncement

26/03/2024 07:15

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RNS Number : 2300I  Zotefoams PLC  26 March 2024

 

Zotefoams plc

('Zotefoams', the 'Company' or 'Group')

 

Group CEO succession

26 March 2024 - Further to its announcement of 7 November 2023, Zotefoams
(LSE: ZTF), a world leader in cellular materials technology, announces the
appointment of Ronan Cox as Group CEO Designate. Ronan will join the Company
on 2 April 2024 and will be appointed to the Board as an Executive Director
and succeed David Stirling as Group CEO at the conclusion of the 2024 AGM, due
to be held on 22 May 2024. Following his stepping down from the Board, David
will remain to ensure a smooth transition until 31 October 2024.

 

Ronan has extensive international leadership experience, most recently as
President of Performance Materials at Coats Group plc, the FTSE 250 world's
leading industrial thread and footwear components manufacturer.

 

Commenting on the changes, Dr Lynn Drummond, Chair of the Company, said:
"Under David's outstanding leadership, and following significant investment
over the last decade, the Group has extended from a single site in the UK to
include operations in Europe, North America and Asia. This footprint, together
with Zotefoams' operational and commercial teams, provide both the capacity
and capability to support continued profitable growth from the Group's core
AZOTE(®) Polyolefin Foams and HPP foams businesses. The Group continues to
progress the development and commercialisation of its unique recyclable
barrier packaging technology, ReZorce(®) Circular Packaging.

 

With a strong and dedicated leadership team in place to support him, I am
delighted to welcome Ronan to Zotefoams. Ronan brings a wealth of experience
and I am confident he will make a significant contribution to the Group. I
very much look forward to working with him."

 

David Stirling, Group CEO, said: "Leading Zotefoams for the past 24 years has
been the greatest privilege of my professional life. I am proud of the role
that my team has played in the Group's success and know that they will fully
support Ronan in his transition to the role."

 

Ronan Cox, Group CEO Designate, commented: "Zotefoams is a business with a
long history of sustainability and growth. I am honoured and excited to have
the opportunity to lead a company with a strong heritage and build on David's
significant achievements."

 

Ronan Cox Biographical Notes

 

Ronan is an accomplished executive leader with extensive experience in driving
business transformation and growth. Most recently, he served as interim CEO
for Lontra, a green technology company delivering ground-breaking air
compressor designs, and President, Performance Materials for Coats Group plc,
a world leader in thread and component manufacturing for apparel and footwear
and textile based performance materials for industries ranging from personal
protection to automotive and telecoms. Ronan also built and led the innovation
teams across the Coats group with a focus on the transition to sustainable and
circular product solutions. Ronan held a number of other executive roles in
Coats, which he joined in 1995, including Chief Transformation Officer,
Regional CEO EMEA & Americas, Regional CEO South East Asia and Managing
Director in several regions, including Europe and North Africa.  Ronan has a
Bachelor's degree in Information Management and Economics from Queen's
University, Belfast and has completed an international Executive Business
Programme with INSEAD in France and Singapore.

 

This announcement includes the information required by Listing Rules 9.6.11 to
9.6.13, and there is no information to report under Listing Rule 9.6.13R (2) -
(6) inclusive.

 

Enquiries:

 

 Zotefoams plc                +44 (0) 208 664 1600
 David Stirling, Group CEO
 Gary McGrath, Group CFO

 IFC Advisory                 +44 (0) 203 934 6630
 Graham Herring

 Tim Metcalfe

 Zach Cohen

 

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology
delivering optimal material solutions for the benefit of society. Utilising a
variety of unique manufacturing processes, including environmentally friendly
nitrogen expansion for lightweight AZOTE(®) polyolefin and ZOTEK(®)
high-performance foams, Zotefoams sells to diverse markets worldwide.
Zotefoams uses its own cellular materials to manufacture T-FIT(®) advanced
insulation for demanding industrial markets. Zotefoams also owns and licenses
patented microcellular foam technology to reduce plastic use in extrusion
applications and for ReZorce(®) mono-material recyclable barrier packaging.

 

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites
in Kentucky, USA, Brzeg, Poland (foam manufacture), Oklahoma, USA (foam
products manufacture and conversion), Massachusetts, USA, Stilling, Denmark
(microcellular foam technology) and Jiangsu Province, China (T-FIT).

www.zotefoams.com (http://www.zotefoams.com)

AZOTE(®), ZOTEK(®), ReZorce(®) and T-FIT(®) are registered trademarks of
Zotefoams plc.

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