7 December 2012
IMI plc (“IMI” or “the Group”)
IMI, the international engineering group, today announces that on 9 May 2013 Terry Gateley will be retiring as non-executive director and stepping down as Senior Independent Director and chairman of the Audit Committee. Terry will retire at the end of the 2013 AGM, nine years after his first election as a director at the 2004 AGM.
Phil Bentley, who was appointed as a non-executive director on 1 October 2012, will assume the chair of the Audit Committee when Terry retires. Phil has a strong financial background, having previously been Finance Director of Centrica plc and also Chairman of the Audit Committee at Kingfisher plc where he was previously a non-executive director.
Anita Frew will succeed Terry as the Senior Independent Director next May. Anita joined the board in 2006 and has extensive experience at board level in public companies including existing roles as a chairman and as a senior independent director.
Commenting on the changes Roberto Quarta, Chairman of IMI, said:
“We will have plenty of opportunity to thank Terry for his efforts at the AGM next year. In the meantime I would like to thank him for his ongoing contribution to the board, notably in his current roles as senior non-executive director and as Chairman of the audit committee where we have particularly valued his deep financial knowledge.
I am also delighted that Phil and Anita have agreed to take up these new responsibilities as they are both very well qualified for these important roles.”
Will Shaw IMI Tel: +44 (0)121 717 3712
Rollo Head / Charlie Chichester RLM Finsbury Tel: +44 (0)20 7251 3801
Notes to editors:
IMI is a global engineering group focused on the precise control and movement of fluids in critical applications. It works with leading international companies in over 50 countries to deliver innovative engineering solutions, built around valves and actuators, to address global trends such as climate change, resource scarcity, urbanisation and an ageing population. Its shares are listed on the London Stock Exchange and it is a member of the FTSE100. Further information is available at www.imiplc.com.