Smiths Group plc today issues the following announcement clarifying the positions of two executive directors who are due to retire during the next 18 months:
Alan Thomson, who joined Smiths as Finance Director in 1995, will retire as planned at age 60 in September 2006. He will be succeeded at that time by John Langston, currently Group Managing Director, Specialty Engineering. Mr Langston is a chartered accountant and held senior financial posts in the manufacturing industry before moving into general management.
Mr Thomson has agreed to stay with the company in a consulting capacity for up to one year after his retirement.
John Ferrie, Group Managing Director, Aerospace, has agreed to continue in that role for one further year beyond his planned retirement date in January 2007. This will allow him to continue his involvement with a number of important aerospace programmes that are approaching completion in the period ahead.
Keith Butler-Wheelhouse, Chief Executive of Smiths Group, said:
"The company's programme of phased succession began last year with Stephen Phipson's appointment as Group Managing Director, Detection. The search currently under way for the next Group Managing Director, Medical is progressing well. This announcement sets out the next steps in the succession process.
I am particularly pleased that, for the key role of Finance Director, we have been able to identify an internal candidate of the quality and experience of John Langston. I am also pleased that we will continue to have access to Alan Thomson during a consultancy period; this will allow a seamless transfer to John after Alan's distinguished service as Financial Director is complete."
Smiths Group designs and manufactures safety critical systems and products and has market-leading positions in aerospace systems, detection systems, medical devices, mechanical seals and interconnect products.