THE INFORMATION CONTAINED WITHIN
THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED
UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
29 October 2024
James Cropper
plc
("James
Cropper", the "Company" or the "Group")
Chief
Executive Officer Succession
James Cropper plc (AIM: CRPR), the
Advanced Materials and Paper & Packaging group,
announces that Steve Adams has notified the Board
of his intention to retire from the Company, stepping down as Chief
Executive Officer and from the Board, in early 2025.
Following a rigorous search process
led by the Nomination Committee the Board is pleased to announce
that David Stirling has been appointed to succeed Steve Adams as
Chief Executive Officer. David will join the business as Chief
Executive Officer Designate in January 2025 and will be appointed
to the Board as Chief Executive Officer following a short handover
period.
David was most recently Chief
Executive Officer at Zotefoams plc, a Main Market listed pioneer in
cellular materials, a position he held for 24 years. Under his
leadership, Zotefoams developed a range of technical materials to
serve a diverse global customer base and grew from a single UK site
to multiple manufacturing operations across the UK, Europe, North
America and Asia.
David began his career as a
chartered accountant with KPMG in the UK and PricewaterhouseCoopers
in the USA and Europe before transitioning into industry. He brings
a wealth of leadership, strategic, commercial, operational and
technical experience, and is well positioned to lead the Group into
its next phase of growth and development.
A further announcement regarding the
timing of David's appointment to the Board will be made in due
course.
Mark Cropper, Non-Executive Chair,
commented:
"I
am delighted to welcome David to James Cropper. David has a
proven track-record for delivering growth in materials businesses
by developing new products and entering new markets across a
variety of end-uses on an international scale. I am confident
that his strong leadership and strategic outlook will harness the
strength and value of our products and services across our global
markets and diverse customer base.
"On behalf of the Board, I would also like to thank Steve for
his contribution over the last two years as Chief Executive
Officer, and prior to that as Managing Director of the Paper &
Packaging business. Steve has navigated the business during a
challenging period, and leaves James Cropper repositioned for
growth as an advanced materials business."
David Stirling, Incoming Chief Executive Officer,
commented:
"I
am excited to join the team at James Cropper and look forward to
working with the Board, Executive team and wider workforce to
deliver value across the business portfolio of advanced materials
and paper and packaging products."
Steve Adams, Chief Executive Officer,
commented:
"I
have enjoyed my time at James Cropper tremendously both as Chief
Executive Officer and previously with the Paper & Packaging
Division over the last seven years. The Company has made great
progress, and I am delighted to hand over to David Stirling for its
next stage of growth. I wish all those at James Cropper the best
for the future and thank them for their considerable support during
my time with the Company."
Further information in accordance
Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for
Companies relating to David Stirling is set out at the end of this
announcement.
-ENDS-
Enquiries:
James Cropper plc
Mark
Cropper, Non-Executive Chair
+44(0)1539 722002
Shore Capital - (Nominated Adviser
and Broker)
Daniel Bush, David
Coaten, Henry Willcocks, Lucy Bowden
Tel: +44 (0)207 408 4090
Burson Buchanan - Financial
PR
Chris Lane, Charles
Ryland, Jamie Hooper, Verity Parker
jamescropper@buchanancomms.co.uk
Tel: +44 (0) 207 466 5000
Regulatory Disclosures (in accordance with Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for
Companies)
Save for the information set out
above and below, there are no further disclosures to be made in
accordance with Rule 17 and Schedule Two paragraph (g) of the AIM
Rules for Companies in respect of the appointment of David Burns
Stirling, aged 58. David does not hold any interest in the
Company.
Current Directorships
Briarwell Ltd
Macfarlane Group plc (from 1 January
2025)
Past Directorships
Azote Asia Ltd
KZ Trading and Investment
Ltd
MuCell Extrusion LLC
T-FIT Insulation Solutions India
Private Limited
Zotefoams Denmark ApS
Zotefoams International
Ltd
Zotefoams Operations Ltd
Zotefoams plc
Zotefoams Poland
Sp.z.o.o.
Zotefoams Technology Ltd
Zotefoams T-FIT Material Technology
(Kunshan) Co., Ltd
Notes for editors:
James Cropper is a market leader in
Advanced Materials and Paper & Packaging, centred
around four market audiences: Energy Solutions, Composite
Solutions, Luxury Packaging and Creative
Papers.
A purpose-led business, built upon
six generations of the Cropper family, James Cropper has a 600+
international workforce and an operational reach in over 50
countries.
Established in 1845, the Group
manufactures creative papers, luxury packaging and advanced
materials incorporating pioneering non-wovens and electrochemical
coatings.
James Cropper is a specialist
provider of niche solutions tailored to a unique customer
specification, ranging from substrates and components in hydrogen
electrolysis and fuel cells to bespoke colours and textures in
paper and moulded fibre packaging designed to replace single use
plastics.
The Group operates across multiple
markets from luxury retail to renewable energy. It is renowned
globally for service, capability, pioneering and multi
award-winning commitment to the highest standards of
sustainability.
James Cropper's goal is to be
operationally net zero by 2030 and to reduce carbon through its
entire supply chain to net zero by 2050.
