Essentra plc announced that Paul Forman has decided to step down from his role as Chief Executive of the Company at the end of the current financial year on 31 December 2022. Paul will be succeeded by Scott Fawcett who is currently the Managing Director of Essentra's Components division. Paul has overseen the successful transformation of the Group.

He joined Essentra in 2017 and embarked on a "stability, strategy, growth" journey refocusing the Group on its core divisions and restoring them to long-term revenue and profit growth. This strategy led to the creation of three leading standalone global businesses with exciting growth prospects in their respective markets. 2021 marked a new chapter for the Group as the Board announced that Essentra would review the strategic options for Packaging and Filters with the view to becoming a pure play components business.

The strategic reviews concluded that the sale of both businesses would be in the best interest of shareholders. Paul will work closely with Scott and the Board to ensure a smooth transition and support the transition to a pure play components business. Scott Fawcett was appointed as Managing Director of the Components division in 2017.

He joined Essentra Components in 2010 as Managing Director of the European business and subsequently joined the Group Management Committee in 2014, leading the Components global strategy. Over the last twelve years, Scott has led the transformation of the Components business from a product led to service led business, enhancing Essentra's customer proposition and delivering a decade of growth supported by the acquisition of nine businesses.