Morgan Advanced Materials names Ian Marchant as chairman designate

Carbon and ceramic materials manufacturer Morgan Advanced Materials has tapped Ian Marchant to take over as chairman, with effect from 1 February.

Marchant will succeed Douglas Caster as the company's chairman after its annual general meeting, subject to shareholder approval, at which point Caster will also stand down as a director of the firm.

Prior to joining Morgan Advanced Materials, Marchant served as chief executive of energy firm SSE from October 2002 to June 2013.

Marchant said: The company has a clear strategy rooted in its purpose to use advanced materials to make the world more sustainable and to improve the quality of life. The business has been transformed in recent years.

"I am greatly looking forward to working with Pete and his executive team to build on everything Morgan has achieved to date and to create value for all of its stakeholders through the execution of the strategy."

As of 1005 GMT, Morgan Advanced Materials shares were down 1.55% at 317.50p.

Reporting by Iain Gilbert at Sharecast.com