REG - Renew Holdings PLC - Directorate Change

Renew HoldingsAnnouncement

17/05/2022 07:15

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RNS Number : 6566L  Renew Holdings PLC  17 May 2022

Renew Holdings plc

("Renew" or the "Group")

 

Directorate Change

The Board of Renew announces the following Board changes with immediate
effect.

 

As referred to in a previous announcement, David Forbes has now resigned as
Chairman and Director of Renew, after almost 11 years on the Board. The Board
would like to thank David for his outstanding contribution to the
transformation of the Group during his tenure and wish him all the best in the
future as he continues to pursue his other business interests.

 

David Brown, currently Senior Independent Director and Chair of the
Remuneration Committee, has been appointed Non-executive Chairman of Renew and
Chairman of the Company's Nomination Committee. David joined the Board in 2017
and has made a significant contribution to the development of the strategy and
success of the Group over this period.

 

Shatish Dasani, currently Chair of the Audit & Risk Committee, has
additionally assumed the responsibilities of Senior Independent Director.

 

Stephanie Hazell, currently Non-executive Director, has been appointed as
Chair of the Remuneration Committee.

 

As previously announced, the Board continues to search for an additional
Non-Executive Director to strengthen the Board.

 

Paul Scott, CEO said:

 

"I would like to thank David for his support and commitment to both me
personally and the Renew Board. During David's tenure on the Board, the Group
has grown significantly and has delivered outstanding shareholder returns. He
leaves the business in a strong financial position with excellent growth
prospects."

 

"I am delighted that David Brown has taken over the Chair. He has been a
member of the Board for the last 5 years during which time he has made a
significant contribution to the Group's progress. His appointment will provide
important continuity as we continue to deliver on our strategic priorities."

 

 

For further information, please contact:

 

 Renew Holdings plc                                             www.renewholdings.com
 Paul Scott, Chief Executive Officer                            via FTI Consulting
 Sean Wyndham-Quin, Chief Financial Officer                     020 3727 1000

 Numis Securities Limited (Nominated Adviser and Joint Broker)  020 7260 1000
 Stuart Skinner / Kevin Cruickshank

 Peel Hunt LLP (Joint Broker)                                   020 7418 8900
 Mike Burke / Harry Nicholas / Charles Batten

 FTI Consulting (Financial PR)                                  020 3727 1000
 Alex Beagley / Sam Macpherson / Rafaella de Freitas            Renew@fticonsulting.com

 

About Renew Holdings plc

Renew is a leading UK Engineering Services business, performing a critical
role in keeping the nation's infrastructure functioning efficiently and
safely. The Group operates through independently branded subsidiaries across
its chosen markets, delivering non-discretionary maintenance and renewal tasks
through its highly skilled, directly employed workforce.

 

Renew's activities are focused into two business streams: Specialist
Engineering, which accounts for over 95 per cent of the Group's adjusted
operating profit, focuses on the key markets of Rail, Infrastructure, Energy
(including Nuclear) and Environmental which are largely governed by regulation
and benefit from non-discretionary spend with long-term visibility of
committed funding.

 

Specialist Building focuses on the High Quality Residential and Science
markets in London and the Home Counties.

 

For more information please visit the Renew Holdings plc website:
www.renewholdings.com

 

 

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