IMI PLC Executive Committee change (4559C)
January 22 2018 - 1:00AM
UK Regulatory
TIDMIMI
RNS Number : 4559C
IMI PLC
22 January 2018
22 January 2018
Executive Committee change
IMI plc (the "Group" or "IMI") announces the following changes
to its Executive Committee.
Peter Spencer, Divisional Managing Director of IMI Hydronic
Engineering and a member of the Executive Committee, has left the
Group. An external search process to identify his successor is
underway.
In the interim Phil Clifton, who recently joined IMI, will lead
the Hydronic Engineering division as Interim Managing Director,
overseen by Mark Selway, until a permanent Divisional Managing
Director is appointed. Phil will also become a member of IMI's
Executive Committee.
Phil has extensive commercial experience in the engineering
sector. Previously he was Chief Executive of Signum Technology, the
private equity backed specialist engineering group focused on flow
control sectors. Prior to that he spent nearly seven years with The
Weir Group PLC where he was Divisional Managing Director of the
company's Power & Industrial division between 2007 and 2011.
With a proven track record of driving significant growth,
particularly in challenging market environments, Phil's skills will
help us to capitalise on the Division's strong foundations and
increase focus on its commercial opportunities.
Mark Selway, Chief Executive of IMI, commented "On behalf of the
Board and the Executive Committee I would like to thank Peter for
all his hard work and dedication since he joined IMI over seven
years ago. He has made a significant contribution to the business
and, in particular, he has helped transform the Hydronic division
into a more focused and efficient organisation. Furthermore, he has
overseen the creation of a number of new product ranges. We
continue to execute the existing strategy for Hydronic Engineering,
with a focus on opportunities for accelerated growth."
Preliminary results announcement
As previously advised, the Group's preliminary results
announcement for the full year ended 31 December 2017, will be
issued on 2 March 2018.
Expectations in relation to the Group's 2017 full year results,
as outlined at the time of the November 2017 Interim Management
Statement, remain unchanged, albeit the results from the IMI
Hydronic Engineering division are likely to be lower than
previously anticipated.
Enquiries to:
Tel: +44 (0)121
John Dean IMI 717 3712
Suzanne Bartch / Gayden Metcalfe Teneo Blue Rubicon Tel: +44 (0)203
757 9239
Notes to editors
IMI plc
IMI plc, the specialist engineering company, designs,
manufactures and services highly engineered products that control
the precise movement of fluids. IMI has manufacturing facilities in
more than 20 countries and operates a global service network. The
Company is listed on the London Stock Exchange. Further information
is available at www.imiplc.com.
IMI plc is registered in England No. 714275. Its legal entity
identifier ('LEI') number is 2138002W9Q21PF751R30.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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