Renold : Appointment of Non-Executive Director

Appointment of Non-Executive Director

Released : 14/11/2018 07:01

RNS Number : 2504H

Renold PLC

14 November 2018

Renold plc

("Renold", "the Company" or "the Group")

Appointment of Non-Executive Director

14 November 2018

Renold, a leading international supplier of industrial chains and related power transmission products, is pleased to announce the appointment of Tim Cooper to the Board as a Non-Executive Director with effect from 14 November 2018. Tim will also be appointed to the Audit Committee, the Remuneration Committee and the Nomination Committee.

Tim has significant experience at senior levels of international businesses in the industrial sector. Tim is currently an executive director at Victrex plc and managing director of the Industrial Division. Prior to joining Victrex in 2010, he held senior leadership positions at Umeco Plc, Tellermate Plc and Avery Berkel Ltd.

Tim's appointment forms a part of Renold's succession planning process for the Board. It is intended that Tim will become Chairman of the Remuneration Committee after he has completed 12 months service. To facilitate a smooth handover period, it is proposed that Ian Griffith's term of office as a Non-Executive Director be extended beyond the usual nine-year tenure until the conclusion of the 2020 AGM.

Mark Harper, Chairman of Renold plc commented:

"I am delighted to welcome Tim to the Group. His experience of creating a customer focused, quality driven manufacturing business with the inherent challenges presented by diverse global operations will ensure that Tim adds real value to the Board.

"I also want to thank Ian for his invaluable contribution to the demanding role as Remuneration Committee Chairman and am pleased that he will remain a part of the Board to ensure a smooth handover."

There are no further matters to be disclosed pursuant to paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.

ENQUIRIES:

Renold plc

0161 498 4500

Robert Purcell, Chief Executive

Ian Scapens, Finance Director

Peel Hunt

0207 418 8831

Mike Bell Sam Cann

Instinctif Partners Mark Garraway

0207 457 2020

Rosie Driscoll

NOTES FOR EDITORS

Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.

Further information about Renold can be found on the website at:www.renold.com

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