Croda International Plc (“Croda” or “the Company”) announces that Jez Maiden, Group Finance Director, has advised the Board that he will be retiring from the Company during 2023 after eight years in the role. The Board has appointed Louisa Burdett, until recently Chief Financial Officer (“CFO”) of Meggitt Plc (“Meggitt”), the global aerospace, defence and energy component manufacturer, to succeed Jez.
Jez joined Croda in January 2015, subsequently transforming the Finance, IT and Digital functions, and developing a broad, diverse pool of talent. He has modernised Croda’s processes, introduced new standards of operational excellence and financial reporting, and closely supported the Chief Executive in the development and deployment of Croda’s strategy. Jez led the creation of Croda’s sustainability metrics, as well as its approach to capital allocation, which has underpinned shareholder value creation by enabling investment in organic growth, targeted acquisitions and strong returns. He also co-led the successful separation of the majority of Croda’s Performance Technology and Industrial Chemicals businesses, accelerating the Company’s transition to be a pure-play Consumer Care and Life Sciences business.
Louisa has over ten years of experience successfully leading finance functions for UK listed companies. This includes four years as CFO of Meggitt, before it was acquired by Parker-Hannifin in September 2022, and five years as CFO of Victrex, the speciality chemicals company. Prior to that she held CFO positions with Optos plc, Financial Times Group, GE Healthcare, and CHEP Europe. Louisa is also Non-executive Director and Audit Committee Chair of RS Group Plc, the FTSE 100 distributor of industrial and electronic products. She has a first-class degree in biochemistry from Imperial College London and trained as an accountant before moving into her first in-house role at GSK.
To enable a smooth transition, Louisa will join Croda and the Board on 1 January 2023. She will succeed Jez as Group Finance Director on 13 March 2023, following Croda’s 2022 Full Year results at the end of February. Jez will step down from the Board at the Annual General Meeting on 26 April 2023 and retire from the Company on 31 May 2023.
Commenting, Anita Frew, Croda Chair said: “On behalf of the Board and all my Croda colleagues, I would like to thank Jez for his outstanding contribution over the last eight years. He has been instrumental in the development and growth of Croda, always nurturing a culture of transformation. I have hugely appreciated his diligence, intellect and thoughtful approach, particularly his contribution to Board debate, and wish him the very best wishes for the future.
“I am delighted that we have been able to appoint Louisa as Group Finance Director. She has an exceptional ten-year track record as a CFO of listed companies, with valuable experience both in speciality chemicals and the broader manufacturing sector. We look forward to welcoming Louisa to Croda in the New Year.”
There are no further details required to be disclosed under LR 9.6.13R of the Listing Rules of the UK Listing Authority.
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