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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Intertek Group plc    ITRK   GB0031638363

INTERTEK GROUP PLC

(ITRK)
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Intertek : Board Change

10/05/2020 | 08:05am EST

INTERTEK GROUP PLC

Board Change

5 OCTOBER 2020

The Board of Intertek Group plc ("Intertek" and the "Group"), a leading Total Quality Assurance provider to industries worldwide today announces changes relating to its Chief Financial Officer (CFO) position.

Ross McCluskey, currently Group CFO, will be appointed into a new operational role in the business from 1 April 2021. Ross has been an outstanding performer in his CFO role and he makes this exciting move with our full support. Ross has been with Intertek for over 4 years starting as our Group Controller and latterly the CFO.

During his time as our Group CFO, Ross has had several noteworthy achievements including:

  • Contributing to the implementation of our 5x5 differentiated strategy for growth
  • Driving operational excellence through the delivery of our disciplined approach to performance management
  • Improving our margin with the implementation of our accretive portfolio strategy and our strong focus on productivity improvements
  • Improving our Free Cash Flow generation with continued reductions in working capital

Jonathan Timmis, currently CFO Health for Reckitt Benckiser, will be joining Intertek as Intertek's new CFO, on or just before 1 April 2021.

Jonathan has had an exceptional career with some of the top companies in the world. At Reckitt Benckiser, prior to his current role he has been the Group Controller, Regional Finance Director for North America and Regional Finance Director for Southern Europe. Prior to his time at Reckitt Benckiser, Jonathan spent several years in senior finance roles with SAB Miller, including 3 years as the Finance Director of Royal Grolsch and Finance Director for the UK business. Jonathan's early career in finance was with PWC.

Jonathan is an Associate member of the Chartered Institute of Management Accounting.

Ross McCluskey will cease to be an Executive Director and Jonathan Timmis will become an Executive Director of the Company from 1 April 2021. There is no other information required to be disclosed under Listing Rule 9.6.13R.

Andre Lacroix, Group CEO commented: "Ross has been an outstanding finance leader and during his time as CFO, we have significantly strengthened our organisational capability as well as our cost, cash, control and performance management processes throughout our global finance function. I am convinced that his decision to move into a line role will be very rewarding and I am excited to partner with him on his new chapter. I am looking forward to welcoming Jonathan who has demonstrated an impeccable track record as an experienced finance executive around the world in highly successful companies."

Ross McCluskey commented: "It is so exciting for me to make the transition from my functional base into a line operational role. This is a significant growth move for me and I am so grateful to be given this opportunity."

Jonathan Timmis commented: "It is an honour to be selected into the role of CFO into a Company with an exceptional track record and such a meaningful Core Purpose of "Bringing Quality, Safety and Sustainability to life". I look forward to contributing fully to the exciting growth agenda of Intertek ahead at a time when there is an increased focus on operational risks across all sectors, making Intertek's Total Quality Assurance value proposition mission critical for Intertek clients".

Intertek Group plc

-ENDS-

CONTACTS

For further information, please contact:

Denis Moreau, Investor Relations

Telephone:

+44 (0) 20 7396 3400

investor@intertek.com

Jonathon Brill, FTI Consulting

Telephone:

+44 (0) 20 3727 1000

intertek@fticonsulting.com

About Intertek

Total Quality. Assured.

Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices and over 46,000 people in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers' operations and supply chains. Intertek Total Quality Assurance expertise, delivered consistently with precision, pace and passion, enabling our customers to power ahead safely.

Visit www.intertek.com

Intertek Group plc

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Intertek Group plc published this content on 05 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2020 12:04:06 UTC


© Publicnow 2020
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Sales 2020 2 775 M 3 704 M 3 704 M
Net income 2020 226 M 302 M 302 M
Net Debt 2020 764 M 1 019 M 1 019 M
P/E ratio 2020 39,2x
Yield 2020 1,81%
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EV / Sales 2020 3,47x
EV / Sales 2021 3,27x
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Free-Float 99,1%
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Technical analysis trends INTERTEK GROUP PLC
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 22
Average target price 5 737,10 GBX
Last Close Price 5 502,00 GBX
Spread / Highest target 29,0%
Spread / Average Target 4,27%
Spread / Lowest Target -25,5%
EPS Revisions
Managers
NameTitle
André Lacroix Chief Executive Officer & Executive Director
David Edward Reid Chairman
Ross McCluskey Chief Financial Officer & Executive Director
Diane Bitzel Chief Information Officer
Pamela Louise Dame Makin Independent Non-Executive Director
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