30 April 2019
discoverIE Group plc
Appointment of Non-Executive Director
The Board of discoverIE Group plc ("discoverIE" or "the Group"), a leading international designer, manufacturer and supplier of customised electronics to industry, is pleased to announce the appointment of Clive Watson as a Non-Executive Director and Chair of the Audit and Risk Committee with effect from 2 September 2019.
Clive recently retired as Group Finance Director of Spectris plc, the FTSE 250 measurements and controls business, having joined their board in 2006 and is also the Senior Independent Non-Executive Director and Chairman of the Audit Committee of Spirax-Sarco Engineering plc, the FTSE 100 Industrial engineering group. He is a member of the Institute of Chartered Accountants.
Malcolm Diamond, Chairman, commented: "We are delighted to welcome Clive to the Board. We look forward to working with him and benefitting from his extensive business experience as we take the Group into the next phase of its development."
Clive Watson, Incoming Non-Executive Director, commented: "I am excited to be joining the Board of discoverIE with its attractive end markets and strong management team as it continues to deliver on its clearly articulated profitable growth strategy."
There is no further information required to be disclosed pursuant to Listing Rule 9.6.13R
For further information, please contact:
discoverIE Group plc
Nick Jefferies Group Chief Executive
Simon Gibbins Group Finance Director
01483 544 500
020 7457 2020
About discoverIE Group plc
discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. With in-house engineering capability, we are able to design components to meet customer requirements, which are then manufactured and supplied, usually on a repeating basis, for their ongoing production needs. This generates a high level of repeating revenue and long term customer relationships.
By focusing on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.
The Group employs c.4,300 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.
The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of £0.4bn. Over the last five years, revenue and underlying earnings per share has more than doubled.
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