The Weir Group PLC : Directorate change
The Weir Group PLC
1 May 2013
Lord Smith to step down as Chairman of The Weir Group
The Weir Group PLC ("Weir") today announces that Lord Smith of Kelvin will
step down as Chairman, and from the Board, with effect from 31 December 2013.
Lord Smith has been in the role since 1 July 2002.
The Board is pleased to announce the appointment of Charles Berry as Deputy
Chairman, with immediate effect. Charles Berry will take over as Chairman from
1 January 2014. Mr Berry joined the Weir Board on 1 March 2013.
Lord Smith of Kelvin said, "It has been a privilege to serve as Chairman
during such a momentous and exciting time for the company. The business has
been transformed under the leadership of two outstanding Chief Executives,
Mark Selway and Keith Cochrane. Weir today is a focused and high-performing
Group, with an enviable track record of growth and a clear sense of its future
The Board, which was led in the process of choosing my successor by Senior
Independent Director Lord Robertson, unanimously views Charles Berry as the
best choice for Chairman. Charles has decades of international business
experience and a strong understanding of Weir's end markets. He also has Weir
in his blood; his father worked for the business for much of his career.
Charles will be a great addition to the experienced team, leading the future
growth of the Group. We are delighted to welcome Charles in his new role and
look forward to continuing to work closely with him."
Paying tribute to Lord Smith, Keith Cochrane, Chief Executive, said, "Lord
Smith has contributed enormously to the growth of Weir during his time and has
provided me with valuable guidance and constructive challenge. The degree of
positive change achieved across our business in the last decade could only
have been possible with the support of the Board under Lord Smith's
Charles Berry said, "I look forward to taking on the roles of Deputy Chairman
and then Chairman, supporting Keith and the executive management team as they
continue to successfully grow this impressive business. Lord Smith has been an
outstanding Chairman of Weir and the opportunity to work alongside him for the
remainder of his tenure will be invaluable."
Contact details: The Weir Group PLC
Andrew Neilson, Head of Group Corporate Affairs Tel: + 44 141 308 3750
Jonathan Milne, Group Communications Tel: + 44 141 308 3781/ + 44
Brunswick Group Tel: + 44 207 404 5959
Patrick Handley/Will Carnwath
About The Weir Group PLC
Weir, a FTSE 100 company founded in 1871 and headquartered in Glasgow,
Scotland, is a global provider of engineering solutions to the minerals, oil
and gas and power sectors. Our commitment to engineering excellence, research
and customer focus extends equipment wear life and operational capability in
some of the world's most challenging environments.
Weir is committed to going where our customers go, with a worldwide network of
around 200 manufacturing facilities and service centres. The business has a
presence in more than 70 countries, with over 14,000 staff around the world
working in three divisions; Minerals, Oil & Gas and Power & Industrial. Weir's
customer base includes the world's largest mining houses, major oil services
businesses and nuclear and conventional power generation companies.
Annual revenues were more than £2.5 billion in 2012, of which more than half
came from the provision of services and aftermarket support. Emerging markets
contributed around forty percent of overall Group revenues.
See www.weir.co.uk for further information.
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information contained therein.
Source: The Weir Group PLC via Thomson Reuters ONE
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