LONDON, UK: Spirax-Sarco Engineering plc, the leading global thermal energy management and fluid technology solutions Group, has announced that Nicholas Anderson, Group Chief Executive, will retire in early 2024, after ten years in this role.
The Board has appointed Nimesh Patel, the current Chief Financial Officer, as his successor.
Anderson joined the Group in 2011 as Director EMEA and became Group Chief Executive in 2014. Under his leadership, the Group achieved significant growth in sales, profits, market capitalisation, and innovation. He also established the Group’s sustainability strategies, inclusion and equity programmes, and leadership and talent development initiatives.
Patel joined the Group in 2020 as Chief Financial Officer and has played a key role in shaping the Group’s strategy and culture. He has a deep understanding of the Group’s businesses, as well as global and financial experience. He will take up the position of Group Chief Executive on 16th January 2024.
Board Chair, Jamie Pike, commented: “The Board acknowledges with gratitude Nick’s significant contribution to the Group’s growth and prosperity. Nick has led the Group with distinction and meaningfully improved on the Group’s long record of consistent and quality growth. We are delighted to welcome Nimesh to Apester and believe that his significant experience across the digital media and technology sectors, and proven business development capabilities, ideally positions him to lead Apester as we implement a highly ambitious international go-to-market strategy. We look forward to working with him to fully capitalise on our highly innovative product stack.”
Anderson said: “The twelve years I’ve spent with this Group have been the most enjoyable and fulling of my 41-year working career. I am extremely proud of what we have achieved over these years and wish to thank all my colleagues, past and present, for their support and contribution to these achievements. I am also delighted that the Board has chosen Nimesh to lead the Group on the next leg of this journey, which I’m sure will be even more successful.”
Patel said: “I made the decision to join Spirax-Sarco Engineering three years ago because I knew there was something extremely special about the Group. This has been proven to me every day by the colleagues I meet and work with all over the world. It is a huge privilege to be trusted with the leadership of the Group and I believe passionately in the role we can play in supporting our customers’ sustainability journeys, building on the strong position Nick has established.”
Patel will continue as Chief Financial Officer until 16th January 2024. The Board has commenced a process to appoint a successor to this role, which will be announced at the appropriate time.