Coats names Devro's Callaway as CFO designate

Industrial thread manufacturer Coats tapped Jackie Callaway for the role of chief financial officer on Wednesday.

Callaway will succeed current CFO Simon Boddie, who was set to retire from Coats on 31 March 2021, on a yet to be determined date.

She will join the FTSE 250-listed firm from collagen products manufacturer Devro, where she took over as CFO back in 2018.

Chief executive Rajiv Sharma said: "Jackie has a strong finance track record, alongside multinational business, manufacturing and supply chain experience, which makes her an ideal fit for Coats going forward.

"Her arrival will be well-timed as it provides the opportunity for her to work closely with Simon Boddie, our current chief financial officer, to ensure a seamless transition of the responsibilities of this key role."

As of 0930 BST, Coats shares were down 2.54% at 54.58p.