23 February 2017
Elementis - Directorate Changes
Elementis plc (ELM.L) (the "Company"), the FTSE 250 Global Specialty Chemicals
Company, today announces the following changes to its Board of Directors
("Board").
Change of responsibilities
Andrew Christie, who will complete 9 years on the Board this Summer and who has
been Chairman of the Remuneration Committee since October 2013, will be
stepping down from this role and as a non-executive Director following the
conclusion of the Annual General Meeting to be held on 25 April 2017.
Steve Good who has been a non-executive Director since October 2014 will become
Chairman of the Remuneration Committee on 26 April 2017.
Andrew Duff, Chairman of Elementis, said: "On behalf of the Board, I would like
to thank Andrew for his significant contribution to the Company's success over
the past 9 years, particularly as Chairman of the Remuneration Committee where
a lot of progress has been made to update our policies in line with market
practice. His corporate finance expertise and strategic insights have also been
very valuable to us. I wish him well in his future endeavours."
Appointment of additional non-executive Director
Following a review of its structure, the Board has decided to increase its size
from 7 to 8 members to broaden its international profile and expertise and to
improve resilience by appointing Dorothee Deuring as a non-executive Director
with effect from 1 March 2017. She will be a member of the Nomination, Audit
and Remuneration Committees.
Dorothee Deuring is a non-executive director of Bilfinger SE, a German listed
industrial services provider (where she is also a member of its audit
committee), and Röchling Group SE, a privately owned group processing
engineering plastics (both since 2016), as well as managing her own corporate
advisory consultancy serving a number of European clients in the pharma/biotech
sector. Her previous executive roles included managing director and head of
Corporate Advisory Group (Europe) at UBS in Zurich, head of M&A chemicals and
healthcare at a private investment bank in Germany and as a senior executive in
the corporate finance department at the Roche group.
Dorothee is an Austrian national and has an MSc. degree in Chemistry from the
Université Louis Pasteur, Strasbourg, and an MBA from INSEAD.
Andrew Duff, Chairman of Elementis, said: "Dorothee is an excellent addition to
the Board and her experience and background will bring new skills and insights
into our boardroom. I am confident that with her corporate finance expertise
and broader chemicals sector knowledge, she will make a positive contribution
to the Board's performance and the quality of its discussions."
The Company confirms that there are no other matters requiring disclosure in
relation to listing rule 9.6.13.
Changes in membership of Board Committees
Following the appointments of Sandra Boss and Dorothee Deuring this year, the
Board has carried out a review of the structure and composition of its
Committees and decided to make a number of changes as set out below. These
changes will be effective from 26 April 2017:
Anne Hyland, who is Chairman of the Audit Committee and a member of the
Remuneration and Nomination Committees, will be standing down as a member of
the Remuneration Committee.
Steve Good, who will become Chairman of the Remuneration Committee on 26 April
2017 and is also a member of the Audit and Nomination Committees, will be
standing down as a member of the Audit Committee.
The membership of the Board's Committees on 26 April 2017 will be as follows:
Audit Committee
Anne Hyland (Chair), Sandra Boss, Dorothee Deuring and Nick Salmon.
Remuneration Committee
Steve Good (Chair), Sandra Boss, Dorothee Deuring and Nick Salmon.
Nomination Committee
Andrew Duff (Chair), Sandra Boss, Dorothee Deuring, Steve Good, Anne Hyland and
Nick Salmon.
Wai Wong
Company Secretary
020 7067 2999