– UK, Oxford – Electrocomponents PLC (LON: ECM) today announced the appointment of Baroness Rona Fairhead to succeed Peter Johnson as Chairman.
Rona will join the Board on 1 November 2020 as Non-Executive Director and will become Chairman on 1 February 2021 with Peter stepping down as Chairman and as a director on that date.
Rona will be a member of the Nomination Committee.
Peter Johnson said: “I am delighted to welcome Rona to the Board. It has been a privilege to be Chair of this Company and it is time for me to hand over the baton. The Company has grown significantly and delivered increasing value for all its stakeholders. I am confident that the wealth of experience that Rona brings will help take it through the next phase of its journey in its goal to be the First Choice for its customers, suppliers and employees. I wish her, Lindsley and the Company well with the exciting future ahead of them.”
Lindsley Ruth said: “I would like to thank Peter for his great work with the Board in the time that he has served as Chair, and for the support, he has given me since I joined as CEO in 2015. I would like to welcome Rona to the Group and very much look forward to working with her.”
About Baroness Rona Fairhead
Rona brings a tremendous range of commercial and strategic experience to the Company. She has held senior executive and non-executive roles in a career spanning over 35 years. Her executive roles include being chairman and CEO, the Financial Times Group and CEO, Pearson plc, EVP, ICI plc and senior roles at Bombardier Inc.
Her extensive board experience includes non-executive directorships at HSBC Holdings plc from 2004 to 2016, PepsiCo Inc from 2014 to 2017 and the Economist Group. She is currently a non-executive director of Oracle Corporation, an S&P 100 technology company.
Rona served as chair of the BBC Trust from 2014 to 2017 and was the UK Minister of State for Trade and Exports from 2017 and 2019. She has been a member of the House of Lords since 2017.
Rona Fairhead said: “This is indeed an exciting time to join Electrocomponents. The Group has already demonstrated that it can take significant market share in a very fragmented market and its potential for future growth is substantial. I look forward to working with Lindsley, the Board and everyone at Electrocomponents and share their optimism and ambitions for the future.”
For more information: https://www.electrocomponents.com/
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