Scapa Group Plc - Heejae Chae to step down as Group CEO of Scapa

Scapa Group plc (AIM: SCPA), a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers, announces that after ten years with the Company, Heejae Chae has informed the Board of his intention to step down as Group Chief Executive and member of the Board. A search and selection process is underway and Heejae will remain with the Company to ensure a smooth transition to a new Group Chief Executive.


Larry Pentz, Chairman of Scapa, commented:

"On behalf of the Board, I would like to thank Heejae for his excellent leadership and impressive contributions to Scapa since joining as Group Chief Executive in 2009. During his ten-year tenure, Heejae has delivered significant growth, greatly improved efficiency and built firm foundations, setting a strategic blueprint that will continue to drive future growth. Under his leadership, the business transformed financially and strategically.  Scapa is a high performing global organisation underpinned by an entrepreneurial culture which has delivered significant shareholder value. As a result, Scapa is financially stronger with a successful strategy and is well placed to deliver on its many future growth opportunities. We wish Heejae well, when he eventually leaves us after working through a smooth transition with his successor."  


Heejae Chae, Group Chief Executive of Scapa, added:

"It was a difficult decision to step away from my post as Group Chief Executive of Scapa, but I feel now is the right time to bring in new leadership to deliver the next phase of our growth strategy. I have been with the Company through many chapters of its growth, from a predominantly industrial business to a significant sized international company now predominantly healthcare focused. I consider myself privileged to have worked with such esteemed colleagues and partners during my tenure. I remain committed to Scapa during this transition period and am confident that the business is poised to continue to deliver long-term sustainable growth from the current strategy."