Spirax-Sarco hires De Beers's Nimesh Patel as CFO

Spirax-Sarco Engineering has hired Nimesh Patel as chief financial officer from De Beers to replace Kevin Boyd at the thermal energy group.

The FTSE 100 company said Patel would join before the end of July. He is CFO at De Beers, the diamond company that is majority owned by Anglo American. Patel has 22 years experience in senior finance jobs including head of corporate finance for Anglo American.

Patel will move to Cheltenham, where Spirax Spiro is based, to replace Boyd who announced is retirement in March. The company said it would publish details of the handover, Boyd's retirement date and Patel's pay when Patel joins.

Spirax-Sarco's chair Jamie Pike said: "I am delighted to welcome Nimesh to Spirax-Sarco. Nimesh is a dynamic and highly capable chief financial officer and I look forward to working closely with him as the group progresses."