Consort Medical names Paul Hayes as new CFO

CONSORT MEDICAL has appointed a new chief financial officer to succeed outgoing CFO Richard Cotton, who will leave in December.

Chartered accountant Paul Hayes, who has served as group finance director of the Vitec Group since 2011, will join Consort Medical next May, the company said.

Cotton will leave Consort, a provider of drug delivery solutions, after the company reports its half year results in December. David Tilston, a regular contributor to Financial Director, will act as interim CFO to cover the intervening period and ensure a smooth transition until Hayes joins in May 2017.

Hayes is an experienced FD in multinational technology manufacturing, consumer goods and retail businesses.

At the Vitec Group, Hayes developed a strong record in operational management, delivering profitable growth and leading commercial, well-controlled finance functions.

Before joining Vitec, Hayes was group financial controller at Signet Jewellers from 2007 to 2011. He also held a senior role at RHM plc from 2004 to 2007, helping the company list in 2005 and contributing to its subsequent sale to Premier Foods plc.

Hayes also worked at Smiths Group for over a decade from 1993 in a number of divisional and operating company FD roles.

Interim CFO Tilston has held a number of senior executive FD roles including at Innovia Group, Mouchel Group, and SABMiller.

Dr Peter Fellner, chairman of Consort Medical, said of Hayes: “His strong track record in driving sustainable profitable growth in high technology manufacturing businesses will be a great asset to the company as we continue to reinforce our position as a leading provider of drug delivery solutions.”

Hayes said: “I am delighted to be joining Consort Medical and help build on its leading position as a global contract development and manufacturing organisation. I look forward to working with the executive team and the board as the company continues to deliver strong organic growth from its robust and innovative product and pipeline portfolios.”