April 5, 2022
Victrex appoints Ian Melling of Smith & Nephew plc as Chief Financial Officer
Ian to succeed Richard Armitage as CFO
Victrex plc is an innovative world leader in high performance polymer solutions, delivering sustainable products which support CO2 reduction and bring environmental and societal benefit in multiple end-markets. The Group is pleased to announce that Ian Melling has been appointed as Chief Financial Officer (CFO) and as an Executive Director of the Board, to succeed Richard Armitage.
As previously communicated, Richard will step down as CFO and from the Board on 27th May 2022. Ian will join Victrex and the Board on 4th July 2022. The appointment follows a diverse and thorough search process. In the intervening period, Mike Ward, Finance Director, who has been with Victrex for nine years, will assume the role of interim CFO.
Ian Melling, FCA, is a Chartered Accountant and currently Senior Vice-President, Corporate Finance and R&D for Smith & Nephew plc, the medical technology company, having served as Interim Chief Financial Officer during 2020. Ian has served in a number of senior finance roles in the UK and internationally for Smith & Nephew, including those with divisional and functional responsibility, having joined the Group in 2006. He served as Senior Vice-President Group Finance for five years until October 2021, prior to his current role.
His other roles have included Vice-President Finance for Spine & Biologics in the USA. Prior to joining Smith & Nephew plc, Ian was an Audit Manager for Deloitte in London. He holds a first class Masters degree in Chemistry from Oxford University.
Commenting on the appointment:
Dame Vivienne Cox, Chair of Victrex, said: "The Board is delighted that Ian has agreed to join Victrex. He is a commercially focused CFO, with listed company experience and a wealth of knowledge from an innovative global growth business. His background in Medical will also be beneficial for Victrex, as this is an end-market where we hold significant value and where we expect to see good growth over the years ahead. The Board would like to thank Richard for his contribution to Victrex and we look forward to welcoming Ian in due course."
Jakob Sigurdsson, Chief Executive of Victrex, said: "We are all looking forward to Ian joining Victrex as we continue to deliver on our Polymer & Parts strategy, with a strong and growing core business supported by our potentially game-changing mega-programmes. Our growth opportunities continue to build and Ian's experience will support us across Industrial and also in Medical, which we anticipate will become a larger part of the Group in the future."
There is no further information to be disclosed under Listing Rule 9.6.13
1/ Ian will be appointed on a base salary of £350,000.
Andrew Hanson, Director of Investor Relations & Corporate Communications +44 (0) 1253 898121
+44 (0) 7809 595831
Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy & Industrial, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 40 years' experience, we are moving beyond the polymer into semi-finished and finished products which shape future performance for our customers and our markets, provide environmental and societal benefit for customers and drive value for our shareholders. Find out more at www.victrexplc.com