Victrex plc
Directorate change
Victrex appoints Dr Vivienne Cox CBE as a non-executive director
and Chair-designate to succeed Larry Pentz
Victrex plc, an innovative world leader in high performance polymer solutions, is pleased to announce that Dr Vivienne Cox CBE has been appointed as a non-executive director and Chair-designate of the Board, to succeed Larry Pentz. As previously communicated, Larry will step down from the Board at the 2022 Annual General Meeting, after nearly eight years as Chair, having previously served as a non-executive director from 2008-2014.
The appointment will be effective from 1st December 2021 as a non-executive director, as Chair-designate from 1st January 2022, and as Chair following the Annual General Meeting on 11 February 2022 to ensure a smooth transition. A thorough search process was led by Ros Rivaz, the Senior Independent Director.
Career history:
Vivienne Cox has a wealth of experience in executive and non-executive roles over nearly 40 years, with a particular focus on sustainability, innovation and alternative energy. She is currently a non-executive Director of GlaxoSmithKline plc and Stena AB in Sweden. Until recently she was Chair of Vallourec SA, a global manufacturing company providing solutions to the energy and industrial sectors . Vivienne was appointed Commander of the Order of the British Empire (CBE) in 2016 for services to the economy and sustainability .
Her executive career included 28 years at BP plc, where, after joining as a graduate trainee, she was latterly CEO of BP Alternative Energy, establishing and developing the Group's renewable energy businesses. She also served on the Group Executive Committee as CEO and Executive Vice-President of BP Gas, Power & Renewables, one of the Group's three reporting segments.
Commenting on the appointment:
Vivienne Cox, Chair-designate of Victrex, said: “I am delighted to be joining Victrex. The Group is emerging strongly from the impact of COVID-19 and with significant growth opportunities and a clear sustainability agenda through products offering environmental and societal benefit, I believe we are particularly well positioned for the years ahead.
“Victrex has a really talented team, a strong culture of innovation, a purpose that seeks to bring transformational and sustainable products to customers and society, an attractive financial profile and a strategy in Polymer & Parts that focuses on capturing further value in our chosen end markets. I look forward to working with Larry to ensure a smooth transition, and with the Board, Jakob, and the wider team as we seek to deliver our short, medium and long-term growth opportunities.”
Larry Pentz, Chair of Victrex, said: “ It has been an honour and privilege to be Chair of Victrex for the past seven years, and I leave the Company in a strong position. Vivienne brings a wealth of experience from throughout her career, particularly in supporting and driving innovation across both small, medium and large listed and private companies. This has a clear alignment to Victrex and our Polymer & Parts strategy. I wish her well and look forward to working with her through a smooth transition.”
Jakob Sigurdsson, Chief Executive of Victrex, said: “ On behalf of the Board I would like to thank Larry for his outstanding contribution over many years, initially as a non-executive director and subsequently as Chair. His passion, determination, resilience and experience have played a key part in ensuring Victrex is well placed for the years ahead. He has been bold and ambitious where required, such that we will benefit from the strong position he leaves us with. We all wish him well for the future and I look forward to working with Vivienne as we build on our progress.”