LONDON: Carclo plc announced that Joe Oatley has been appointed Chairman of the Board with immediate effect.
Joe joined the Board as a Non-Executive Director and Chairman of the Remuneration Committee in July 2018. He is also currently a Non-Executive Director of Wates Group Limited and Centurion Group Limited and previously in his career was Chief Executive of Cape plc and Hamworthy plc.
Subsequent to the departure of the previous Chairman on 24 March 2020, it has become clear that the search for a permanent replacement may take significantly longer than previously anticipated. The Board believes that it is essential to have a Chairman in place given the current challenging market environment and the need to secure a long-term financing position for the Group, and has accordingly asked Joe to assume the role while continuing to search for a longer-term replacement.
Commenting, Peter Slabbert, Senior Independent Non-Executive Director, said: “Joe has made a considerable contribution to the Board to date and will provide strong leadership during a difficult time until a longer-term replacement can be found”.
Carclo plc is a public company whose shares are quoted on the Main Market of the London Stock Exchange. The Group is a global provider of value-adding engineered solutions for the medical, optical and aerospace industries.