Morgan Advanced Materials PLC

Board/Management Information • Sep 29, 2014

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RNS Number : 8007S

Morgan Advanced Materials PLC

29 September 2014

29 September 2014

NEWS ANNOUNCEMENT

BOARD CHANGE

Mark Robertshaw, Chief Executive Officer ("CEO") of Morgan Advanced Materials has today announced his intention to step down to take up a job as CEO of a private equity-backed business.

Mark became CEO in August 2006 and over the last eight years has led the transformation of Morgan Advanced Materials from diversified engineering conglomerate to focused advanced materials company. The change has enabled the company to deliver a higher quality revenue stream and to lift margins significantly.  

Morgan Advanced Materials has started the process of recruiting a successor and will consider both internal and external candidates for the role. Mark will continue as CEO until a replacement is appointed in the New Year.

Andrew Shilston, Chairman, said:

"The Board and I would like to thank Mark for all his work in re-shaping the company over the past several years. His energy and commitment in developing our people and our technology through changing macro environments has set a new benchmark for the resilience and quality of the Group. We wish him all the best in his future career."

Mark Robertshaw, CEO, said:

"It has been a pleasure and honour to work at Morgan. After over eight years as CEO I have decided now is the right time to move on. I have had the privilege to work with Morgan's outstanding employees worldwide in reshaping the Group's portfolio and products. Through their commitment to technology and innovation we have significantly strengthened Morgan's differentiation and in the process established a world leading position in advanced materials science. I am confident that the Group has a strong platform to deliver continued success in the years ahead."

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About Morgan Advanced Materials

Morgan Advanced Materials is a global materials technology company which designs and manufactures a wide range of high specification products with extraordinary properties, across multiple sectors and geographies.

From an extensive range of advanced materials we produce components, assemblies and systems that deliver significantly enhanced performance for our customers' products and processes. Our engineered solutions are produced to very high tolerances and many are designed for use in extreme environments.

The Company thrives on breakthrough innovation. Our materials scientists and applications engineers work in close collaboration with customers to create outstanding, highly differentiated products that perform more efficiently, more reliably and for longer.

Morgan Advanced Materials has a global presence with more than 9,000 employees across 50 countries serving specialist markets in the energy, transport, healthcare, electronics, security and defence, petrochemical and industrial sectors. It is listed on the London Stock Exchange in the engineering sector (ticker MGAM).

For more information on Morgan Advanced Materials visit www.morganadvancedmaterials.com

Contact:

Mike Smith / Nina Coad / Alison Kay

Brunswick Group LLP

Tel: 020 7404 5959

Email: [email protected]

This information is provided by RNS

The company news service from the London Stock Exchange

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