IMI plc announces that, following five years with the Group, Mark Selway has confirmed that he intends to step down as Chief Executive immediately following the Company’s Annual General Meeting (the ‘AGM’) on 9 May 2019 and retire from the Board on 31 July 2019. He will be succeeded by Roy Twite, currently Divisional Managing Director of IMI Critical Engineering, who will become Chief Executive Designate from 1 March 2019 and Chief Executive immediately following the AGM.
Roy joined IMI in 1988 and has been a member of the Board since 2007. He has held senior management roles in all parts of the Group including President of IMI Hydronic Engineering, President IMI Precision Engineering and, since 2011, Divisional Managing Director of IMI Critical Engineering.
Commenting, Chairman Lord Smith of Kelvin said:
“Following a rigorous selection process supported by Russell Reynolds that included both internal and external candidates, the Board is delighted to appoint Roy as IMI’s next Chief Executive. He is a strong and experienced successor who has been pivotal to the Group’s continued success. He has extensive operational experience, deep knowledge of our core markets and outstanding leadership qualities.”
“Under Mark’s leadership IMI’s market position has been significantly enhanced. The Group’s infrastructure has been modernised, its operational performance radically improved and its customer offering refreshed. As a result, IMI is now a much more robust and sustainable business. On behalf of the Board I would like to thank Mark for his leadership, drive and commitment. He has made a significant contribution to the Group, and while fully respecting his decision to return home to retire, we are very sorry to see him go. We wish him well in his retirement back in Australia.”
Commenting, Mark Selway said:
“Choosing to leave IMI has been a tough decision, but the time is now right to hand over to a successor to continue the Group’s development. Roy will do a great job leading the business through its next phase of development and growth.”
“I am very proud of what the team at IMI has delivered and I am confident that the solid foundations put in place in recent years position the Group well for the future.”
Roy Twite added:
“I am very pleased to take up this role. IMI is an outstanding organisation. We have great people, world-class engineering capabilities and a competitive customer offering. Over the next few months, Mark and I will work diligently to execute a seamless transition, and I look forward to leading the Group in its next phase and creating value for all our stakeholders.”