Polypipe Group plc (“the Company”), a leading manufacturer of plastic piping systems for the residential, commercial, civils and infrastructure sectors, announces that Peter Shepherd, Chief Financial Officer, has informed the Board of his intention to retire from the Group.
Peter wishes to retire close to his 60th birthday which falls during July 2016, after over 10 years with the Company, having joined in his current role, in January 2006.
We are pleased to announce that Martin Payne will succeed Peter Shepherd as Chief Financial Officer and a member of Polypipe’s Board on a date yet to be determined, which will allow Martin to fulfil his existing contractual obligations and provide an effective handover period with Peter.
Martin has served as Group Finance Director at Norcros plc, a leading supplier of branded showers, taps, bathroom accessories, tiles and adhesives, since March 2011. He is a Fellow of the Chartered Institute of Management Accountants and his previous experience includes holding senior financial positions at JCB, the construction equipment manufacturer, and at IMI plc, the British-based engineering company. Prior to this, Martin spent six years as Finance Director at H&R Johnson Tiles Ltd.
David Hall, CEO said:
“I would like to thank Peter for his support and significant contribution to Polypipe. He has been instrumental in the business’ tremendous progress over the last decade and in the successful transition to public listing. We wish him well in his retirement which is thoroughly deserved.
I am very pleased to welcome Martin onto our Board. His enthusiasm, financial and operational skills together with his experience of working in public listed companies will be a great asset. We look forward to working with him as Polypipe continues to develop.”
The following information is required to be disclosed pursuant to paragraph LR9.6.13R of the Listing Rules of the Financial Conduct Authority. Martin Payne holds the following directorship in a publicly quoted company in the previous five years:
• Norcros plc: 18th March 2011 to current
There is no other additional information which is required to be disclosed pursuant to paragraph LR9.6.13R.
David Hall, Chief Executive Officer
+44 (0) 1709 770 000
+44 (0) 2074 045 959
Notes to Editors:
Polypipe is the largest manufacturer in the United Kingdom, and among the ten largest manufacturers in Europe, of plastic pipe systems for the residential, commercial, civils and infrastructure sectors by revenue. The recently acquired Nuaire business is a leading designer and manufacturer of energy efficient ventilation systems in the UK.
The Group operates from 19 facilities in total, and with over 20,000 product lines, manufactures the United Kingdom’s widest range of engineered plastic piping systems for heating, plumbing, drainage and ventilation. The Group primarily targets the UK, French and Irish building and construction markets with a presence in Italy and the Middle East and sales to specific niches in the rest of the world.
Date: 23 November 2015