Volex PLC Directorate Change (1034F)
12 Novembre 2020 - 8:00AM
UK Regulatory
TIDMVLX
RNS Number : 1034F
Volex PLC
12 November 2020
12 November 2020
Volex plc
("Volex" or the "Company")
Board Succession and Development
Volex plc (AIM:VLX), the global supplier of integrated
manufacturing services and power products, today announces changes
to its Board.
Chief Financial Officer
Daren Morris, who initially joined the business in June 2014 as
a Non-Executive Director before becoming Chief Financial Officer in
September 2014, has today left the Board with immediate effect and
will be leaving the business.
Jon Boaden, who joined the business in April 2019, as Deputy
Chief Financial Officer, has been promoted to the role of CFO with
immediate effect.
Succession planning has been high on the Board's agenda as it
seeks to maintain the Company's growth and development.
Jon Boaden emerged as the leading candidate for succession to
the role of Chief Financial Officer following a rigorous profiling
and search process including the full evaluation of potential
internal and external candidates using specialist consultants. He
has played a key role in the significant growth and development of
the Group's business since joining the business over 18 months ago
and has quickly established himself as a well-respected leader
within the organisation.
Independent Non-Executive Director
Sir Peter Westmacott has agreed to join the board as an
Independent Non-Executive Director and member of the Company's
Nominations Committee effective from 12 November 2020.
Sir Peter is a senior British Diplomat who retired from the
Foreign and Commonwealth Office in 2016. He brings with him a
wealth of experience from a diplomatic career spanning over 40
years which included 14 years as British Ambassador to Turkey,
France and the United States. His substantial record, acknowledged
by successive Prime Ministers, of policy and business delivery will
be a key asset to Volex.
Sir Peter Westmacott's and Jon Boaden's appointments maintain
the Company's approach to strong independent governance and
oversight. Following the implementation of these changes, the
Company's Board will consist of four non-executive directors and
two executive directors.
Nat Rothschild, Executive Chairman of Volex, commented:
"I would like to take this opportunity to thank Daren for his
contribution to the group over this period and wish him well for
the future.
In line with the Board's long-term succession planning, I am
very pleased to announce that Jon Boaden, who joined the business
over 18 months ago, will be stepping up to the role of Chief
Financial Officer and look forward to working with him in this
capacity. Furthermore, I am delighted that we are able to appoint
somebody of the calibre of Sir Peter Westmacott as an Independent
Non-Executive Director and have no doubt that he will be an
invaluable addition to the Board.
Both Jon and Sir Peter's appointments demonstrate the continued
evolution of Volex as we look to build on the strong momentum we
have generated in recent years."
Additional Disclosures Required under the AIM Rules for
Companies
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies.
Jonathan William Boaden, aged 41 years, d oes not hold any
current directorships. Additionally, he has not held any other
directorships or partnerships in the last five years. Sir Peter
John Westmacott, aged 69 years, holds or has held the following
directorships and partnerships in the last five years:
Current Directorships/Partnerships Former Directorships/Partnerships
Glasswall Holdings Limited Tellus Matrix LLP
We Soda Limited
EY LLP
Sir Peter is a member of the Ernst and Young UK Independent
Non-Executive Oversight Committee.
Save as set out above there are no further disclosures pursuant
to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for
Companies in respect of their appointments.
-ENDS-
For further information please contact:
+44 (0)7747 488
Volex plc 785
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
N+1 Singer - Nominated Adviser & Joint Broker +44 (0)20 7496 3000
Shaun Dobson
Iqra Amin
Panmure Gordon - Joint Broker +44 (0)20 7886 2500
Hugh Rich
Powerscourt - Media Enquiries + 44 (0)20 7250 1446
James White
Jack Holden
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END
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