4 December 2019
Vesuvius plc ("Vesuvius" or "the Group")
Non-executive Director Changes
Vesuvius plc, a global leader in molten metal flow engineering and technology, announces that at the close of today's Board meeting, Christer Gardell, Managing Partner of Cevian Capital, Vesuvius's largest shareholder, stepped down as a non-executive Director, following seven years of service on the Board. In his place, providing continuity of representation of Cevian, the Board has appointed Friederike Helfer, who is also a Partner of Cevian Capital.
Ms Helfer joined Cevian in 2008, and from 2013 to 2017, served on the Board of Directors and the Audit Committee of Valmet, a Finnish Engineering company, in which Cevian was also invested. Prior to joining Cevian, Ms Helfer worked at McKinsey & Company. She holds degrees from Massachusetts Institute of Technology and from Vienna University of Technology and is a CFA charterholder.
John McDonough CBE, Chairman said:
"I am delighted that Friederike has joined the Board of Vesuvius. She is an experienced Board member and talented strategist with a wealth of commercial acumen, and I have no doubt she will make a valuable contribution to the Board.
On behalf of the Directors, I would also like to thank Christer for his support and service to the Board of Vesuvius over the past seven years. He has brought his incisive intellect to the deliberations of the Board, and with his Board colleagues has overseen the establishment of Vesuvius as a strong and successful independent public company. Vesuvius looks forward to the continued support of Cevian."
No other disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in respect of Ms Helfer's appointment.
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For further information, please contact:
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Vesuvius plc |
Patrick André, Chief Executive |
+44 (0) 207 822 0000 |
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Guy Young, Chief Financial Officer |
+44 (0) 207 822 0000 |
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Media enquiries: |
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MHP Communications |
Andrew Jaques / Ollie Hoare / Peter Lambie |
+44 (0) 203 128 8100 |
About Vesuvius plc
Vesuvius is a global leader in molten metal flow engineering and technology principally serving the steel and foundry industries.
We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce costs. These include flow control solutions, advanced refractories and other consumable products and increasingly, related technical services including data capture.
We have a worldwide presence. We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.
Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.
Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766
LEI: 213800ORZ521W585SY02
