A MAJOR SUCCESSION PLANNING exercise at screws and rivets maker Trifast has seen group FD Mark Belton step up to CEO.
Belton has served with the group since 1999, having joined as a chartered accountant from KPMG. He joined its board in 2010 in recognition for his work in implementing a three-year turnaround process, which saw it move back into profit.
He has “shown his resilience and upskilled over his 15-year career with Trifast”, it said in a statement to the stock exchange. “He has the respect of the global operational teams as he has forged a wealth of knowledge and great understanding of the industry,” it added.
CEO Jim Barker, who has served in the industry for 40 years, steps down in October.
Group financial controller Clare Foster will be promoted to the board as CFO from October. Foster joined in January, and has been involved in all aspects of financial management and accounting governance.
In March she also took on the company secretary role. Another former KPMG accountant, she has more than 16 years’ experience in client-facing and internal roles. Latterly she handled a variety of strategic projects for the firm, working alongside the UK leadership team in London.
Another senior finance chief has been recruited by Trifast. Former Chloride Group FD Neil Warner joins as its senior independent director. His experience in global business, M&A, risk management and IT will be of great use to the board, Trifast said. He joined Vectura’s audit committee in 2011.
Malcolm Diamond executive chairman, Trifast, said: “On behalf of the board and all stakeholders I would like to congratulate Mark and Clare on their respective promotions. Both have the skill sets, drive and determination to positively lead the team that will take Trifast to the next stage of its growth aspirations.”
Its share price is currently 125.5p, down 2.5p in this morning’s trading.