Scapa Group PLC Directorate Changes (7404L)
04 Maggio 2020 - 8:00AM
UK Regulatory
TIDMSCPA
RNS Number : 7404L
Scapa Group PLC
04 May 2020
4 May 2020
LEI No. 213800QIPVTK5ES5UU36
Scapa Group plc
('Scapa' or 'the Company')
Directorate Changes
Scapa Group plc (AIM: SCPA) a diversified Healthcare and
Industrial company focused on bringing best-in-class innovation,
design and manufacturing solutions to its customers, announces the
following organisational and Board changes.
John Petreanu has been appointed President of Healthcare. John
succeeds Joe Doherty, who resigned from the Company as Executive
Director and President of Healthcare, with effect from 4 May 2020,
to pursue other business opportunities. John was most recently Vice
President Operations at Viant Medical, a $1bn global services
provider to the medical device industry. John was previously Chief
Operating Officer for Scapa Healthcare, and has also held senior
executive positions at Integer Holdings Corporation, Hospira,
CareFusion (a subsidiary of BD), and Cardinal Health. Joe will work
through an orderly transition with John over the next few
weeks.
Heejae Chae, Group Chief Executive of Scapa, will also assume
the role of President of Industrial, as of 4 May 2020. Heejae
succeeds Sevan Demirdogen, who has resigned from the Company as
Executive Director and President of Industrials, effective from 4
May 2020, to pursue other business opportunities. Sevan will assist
in ensuring a smooth transition.
Heejae Chae has volunteered a temporary 20% reduction in basic
salary during the current period of disruption resulting from
Covid-19.
As a result of this reorganisation, the Board consists of two
Executive Directors, three Non-Executive Directors and the
Chairman.
On 27 March 2020, the Company reiterated guidance for the
financial year ended 31 March 2020 and expects Group underlying
trading profit to be in line with the trading update provided on 12
February 2020.
Heejae Chae, Group Chief Executive of Scapa, commented:
"On behalf of the Board, I would like to thank both Joe and
Sevan for their contribution to the Group. We wish them all the
best in their future endeavours . I look forward to working closely
with John following his appointment as President of Healthcare. We
believe we have the right vision and strategy in place to
capitalize on the outlook and opportunities for Healthcare and
Industrial."
For further information:
Scapa Group plc
Heejae Chae - Group Chief Executive
Oskar Zahn - Chief Finance Officer 0161 301 7430
Numis Securities Limited
(Nominated Adviser and Joint Broker)
Freddie Barnfield/Mark Lander 020 7260 1000
Berenberg
(Joint Broker)
Chris Bowman/Toby Flaux 020 3207 7800
FTI Consulting
(Media Relations)
Simon Conway/Victoria Foster Mitchell 020 3727 1000
About Scapa Group plc
Scapa Group plc is a diversified Healthcare and Industrial
company focused on bringing best-in-class innovation, design and
manufacturing solutions to its customers.
Healthcare
Scapa Healthcare is the trusted strategic partner of choice for
the world's leading companies in Advanced Wound Care, Consumer
Wellness and Medical Device Fixation. We partner with the top
global MedTech companies to develop and manufacture innovative skin
friendly medical device fixation and topical solutions, from
inception through to market delivery, from our state-of-the-art
facilities.
For further information, please visit
www.scapahealthcare.com
Industrial
Scapa Industrial is a global supplier of bonding solutions and
manufacturer of adhesive-based products which offer meaningful
value in industrial applications due to their lightweight,
easy-to-apply properties. We are recognised for our unparalleled
range of products, including adhesive tapes, films and foams, and
we can engineer custom designs for even the most unique
applications.
For further information, please visit
www.scapaindustrial.com
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END
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