15 October 2021
Richard Armitage to stand down from the Board; appointed as CFO of Morgan Advanced Materials
Victrex plc, an innovative world leader in high performance polymer solutions, delivering sustainable products which support CO2 reduction and bring environmental and societal benefit, today announces that Richard Armitage, the Group's Chief Financial Officer (CFO) has notified the Board of his intention to stand down after over three and a half years in the role, to take up a position as Chief Financial Officer for Morgan Advanced Materials plc. The Group expects Richard will leave Victrex by 27th May 2022 and a full search process will commence shortly.
Jakob Sigurdsson, Chief Executive of Victrex, said: "I would like to thank Richard for his contribution over the last three and a half years. We have retained a strong financial footing for the business, with a robust balance sheet, strong cash generation, an ability to invest and underpin our future growth, as well as the ability to deliver attractive shareholder returns."
Larry Pentz, Chairman of Victrex, said: "The Board thanks Richard for his contribution and we wish him well. Victrex is emerging strongly from the impact of COVID-19 and with significant growth opportunities and a clear sustainability agenda through products offering environmental and societal benefit, the Board believes we remain well positioned for the years ahead."
Richard's terms of departure will be in line with the Company's remuneration policy.
Victrex closed its FY 2021 financial year on 30 September 2021, with trading remaining in line with current FY 2021 full year expectations. The Group will report preliminary results on 6th December 2021.
Andrew Hanson, Director of Investor Relations & Corporate Communications +44 (0) 1253 898121
+44 (0) 7809 595831
Jakob Sigurdsson, Chief Executive +44 (0) 1253 897700
Richard Armitage, Chief Financial Officer +44 (0) 1253 897700
Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 40 years' experience, we are moving beyond the polymer into semi-finished and finished products which shape future performance for our customers and our markets, provide environmental and societal benefit for customers and drive value for our shareholders. Find out more at www.victrexplc.com