TIDMFAN
RNS Number : 0983T
Volution Group plc
15 March 2023
15 March 2023
Volution Group plc
Appointment of Chair Designate
Volution Group plc ("Volution" or the "Company", LSE: FAN), a
leading international designer and manufacturer of energy efficient
indoor air quality solutions, is pleased to announce that its Board
of Directors has appointed Nigel Lingwood as Chair Designate.
Nigel will succeed Paul Hollingworth as Non-Executive Chair of
the Company effective 23 June 2023, when Paul will stand down as
Chair, after serving nine years on the Board.
Nigel is currently an independent Non-Executive Director at
Volution, having been appointed to the Board in April 2020. He has
served as Chair of the Audit Committee since that time and is a
member of both the Remuneration and Nomination Committees. Nigel's
appointment as Chair Designate follows an external search process
led by the Senior Independent Director, Amanda Mellor.
Since his appointment in 2020, Nigel has made a valuable
contribution to Volution, bringing extensive financial and
accounting expertise to the Board, together with significant public
company knowledge, and wide-ranging merger and acquisition
experience, both in the UK and internationally.
Upon his appointment as Non-Executive Chair in June 2023, Nigel
will chair the Nomination Committee, taking over from the current
Committee Chair, Amanda Mellor. He will step down as Chair of the
Audit Committee in line with best practice. A search for a Chair of
Audit is now under way.
Amanda Mellor, Senior Independent Director of Volution,
commented:
"We are delighted to have appointed Nigel to succeed Paul. We
conducted a thorough search for Paul's successor, and we believe
that Nigel brings strong understanding of Volution's markets and
opportunities as well as the leadership qualities and relevant
expertise crucial for this role. He will be well placed to lead the
Board and support Volution's future ambitions.
On behalf of the Board, I would like to thank Paul for his
outstanding contribution to the Company since Volution's listing in
2014 and his significant stewardship as Chair, especially through
the challenging Covid years. We are grateful that he will work with
Nigel to ensure an orderly handover and wish him all the very best
for his retirement in June".
Nigel Lingwood commented:
"I am excited to have been appointed as Chair Designate, and I
am very much looking forward to working with Paul and then taking
up the reins in June. I would like to thank Paul for his
exceptional leadership and significant contribution to the journey
of Volution during his tenure. I look forward to working with the
team on the Company's growth and margin ambitions going forward,
and to further deliver on our strategy to provide "Healthy air,
sustainably".
As Nigel Lingwood is an existing Director of the Company, there
are no other details that are required to be disclosed in respect
of Rule 9.6.13 of the Listing Rules.
- ends -
Enquiries:
Volution Group plc
Fiona Smith, Company Secretary
Legal Entity Identifier: 213800EPT84EQCDHO768
Note to Editors:
Nigel Lingwood:
Prior to joining Volution, Nigel had an executive career in
finance, most recently serving as group finance director of Diploma
PLC from 2001 to 2020. During his time at Diploma, Nigel oversaw
more than 50 international acquisitions across Europe, North
America and Australia during which time the company had grown its
market capitalisation from ca.GBP60 million to ca.GBP1.8 billion.
Nigel is currently a Non-Executive Director at Dialight plc and was
previously senior independent director and audit committee chairman
of Creston plc from July 2015 until December 2016.
About Volution:
Volution Group plc (LSE: FAN) is a leading international
designer and manufacturer of energy efficient indoor air quality
solutions.
Volution Group comprises 19 key brands across three regions:
UK: Vent-Axia, Manrose, Diffusion, National Ventilation,
Airtech, Breathing Buildings, Torin-Sifan.
Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection,
Rtek, inVENTer, Ventilair, ClimaRad, ERI Corporation.
Australasia: Simx, Ventair, Manrose.
For more information, please go to: www.volutiongroupplc.com
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END
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(END) Dow Jones Newswires
March 15, 2023 09:36 ET (13:36 GMT)
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