Cheltenham engineering firm unveils new chairman
Engineering firm Spirax has announced a series of changes at the top of the company.
As previously announced, Jamie Pike will retire later this year, having served as a Non-Executive Director since 2014 and as Chair since 2018.
The board agreed with Jamie that he would serve as chair until no later than the end of 2024 in order to ensure a successful handover of group chief executive responsibilities from Nick Anderson to Nimesh Patel and to facilitate an appropriate handover to the incoming chair.
Tim Cobbold will join the board of the Cheltenham business as a Non-Executive Director and chair designate with effect from September and will take over as chair of the board and nomination committee from next January.
Tim’s appointment is subject to election as a director at the company’s AGM to be held this month.
Tim will continue as chair of TI Fluid Systems plc and, as announced today by Rotork, he will be stepping down as a director of Rotork with effect from December.
Nimesh Patel, group chief executive, said: “We are grateful to Jamie for his contribution over the last decade to establish our Group’s strong foundations, leaving us well positioned for the future.
“In his role as chair, Jamie’s leadership has been vital in guiding the business through significant change, earning him the respect of our stakeholders, including our shareholders and our colleagues. I would also like to thank Jamie for his support as I took up the role of group CEO.
“We are delighted that Tim will be joining our Board later this year. Tim’s broad business experience with global industrial companies, as well as his experience as CEO of three FTSE listed businesses with a strong track record of value creation through growth and operational delivery, will benefit the further development of Spirax Group. I look forward to working with him as we continue to evolve our Group.”
Jamie Pike said: “It has been a pleasure to serve both the shareholders and the Company, as well as to see the Group make significant progress. I leave Spirax Group well positioned for the future, as a stronger, more balanced and more sustainable group of three leading and solutions-focused businesses.
“I am confident that Spirax Group will continue to go from strength to strength under the leadership of the Board and group executive committee and with the support of colleagues worldwide who all have my very best wishes for the future.”
