Coats Group plc (LON:COA), the world’s leading industrial thread and global footwear component manufacturer, has announced that Heather Lawrence will join the Board as a Non-Executive Director, effective 7 November 2022. In addition, she will join the Audit and Risk Committee, as Chair Designate, and the Nomination Committee. Subject to shareholder approval of her nomination to the Board, Heather will succeed Nicholas Bull as Chair of the Audit and Risk Committee following the 2023 Annual General Meeting of the Company expected to be held on 17 May 2023.
Heather originally qualified as a Chartered Accountant and subsequently spent well over a decade working in senior roles in corporate finance and investment banking, where she honed her experience across industrial and transportation businesses. In her most recent role, Heather was a Managing Director at Citigroup, where she ran the Aviation and Travel franchise in EMEA. She has served on several boards and was previously a Non-Executive Director of Flybe plc. Heather is currently a Non-Executive Director and Chair of the Audit Committee at Melrose Industries plc.
David Gosnell OBE, Chair, said: ‘I am delighted that Heather will be joining the Board. Her in-depth knowledge and understanding of Finance across multiple industries is a huge asset for Coats. I look forward to working with her.’
No further information is required to be disclosed pursuant to Listing Rule 9.6.13.
With over 250 years of heritage, Coats Group plc is the world’s leading industrial thread and global footwear component company. At home in some 50 countries, Coats has a workforce of over 17,000 people across six continents. Revenues in 2021 were US$1.5bn. Coats provides complementary and value-adding products, services and software solutions to the apparel and footwear industries. It also applies innovative techniques to develop high technology performance materials threads, yarns, fabrics and composites in areas like personal protection, telecoms, energy, transportation, and household and recreation. Headquartered in the UK, Coats is a constituent of the FTSE 250 and FTSE4Good Index Series. It is a participant in the UN Global Compact, a member of the Ellen MacArthur Foundation, has approved short term Science Based Targets to 2030 and is committed to developing a long-term target to reach net-zero emissions by 2050, the highest level of ambition on climate change under the Science Based Target initiative. The pioneering history and innovative culture of Coats enable the delivery of its purpose to connect talent, textiles and technology to make a better and more sustainable world.