New chair at FTSE-100 manufacturer Spirax Group

Tim Cobbold has become chair of Spirax Group in the second phase of leadership changes at the Cheltenham manufacturer.

The move follows the appointment of Nimesh Patel as group chief executive last year.

The FTSE-100 group had a challenging 2024, with its half-year profits down 10%, while its share price lost 30% of its value over the year.

Cobbold replaces Jamie Pike, who has retired after 10 years on the board, the last six as chair.

Cobbold joined the group in September 2024 as a non-executive director and chair-designate. He is currently chair of TI Fluid Systems, and stood down as a director of Rotork at the end of last year.

He said: “I am very much looking forward to working alongside board colleagues, the group executive team and the wider organisation to continue Spirax Group’s evolution.

“I would like to acknowledge Jamie’s significant contribution to the development of Spirax Group over 10 years and thank him for his expert leadership. He leaves Spirax Group and the board well equipped to take advantage of the opportunities that lie ahead.”