Chief Executive Officer Succession

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

29 October 2024

James Cropper plc

("James Cropper", the "Company" or the "Group")

Chief Executive Officer Succession

James Cropper plc (AIM: CRPR), the Advanced Materials and Paper & Packaging group, announces that Steve Adams has notified the Board of his intention to retire from the Company, stepping down as Chief Executive Officer and from the Board, in early 2025.

Following a rigorous search process led by the Nomination Committee the Board is pleased to announce that David Stirling has been appointed to succeed Steve Adams as Chief Executive Officer. David will join the business as Chief Executive Officer Designate in January 2025 and will be appointed to the Board as Chief Executive Officer following a short handover period.

David was most recently Chief Executive Officer at Zotefoams plc, a Main Market listed pioneer in cellular materials, a position he held for 24 years. Under his leadership, Zotefoams developed a range of technical materials to serve a diverse global customer base and grew from a single UK site to multiple manufacturing operations across the UK, Europe, North America and Asia. 

David began his career as a chartered accountant with KPMG in the UK and PricewaterhouseCoopers in the USA and Europe before transitioning into industry. He brings a wealth of leadership, strategic, commercial, operational and technical experience, and is well positioned to lead the Group into its next phase of growth and development. 

A further announcement regarding the timing of David's appointment to the Board will be made in due course.

Mark Cropper, Non-Executive Chair, commented:

"I am delighted to welcome David to James Cropper.  David has a proven track-record for delivering growth in materials businesses by developing new products and entering new markets across a variety of end-uses on an international scale.  I am confident that his strong leadership and strategic outlook will harness the strength and value of our products and services across our global markets and diverse customer base.

"On behalf of the Board, I would also like to thank Steve for his contribution over the last two years as Chief Executive Officer, and prior to that as Managing Director of the Paper & Packaging business.  Steve has navigated the business during a challenging period, and leaves James Cropper repositioned for growth as an advanced materials business."  

David Stirling, Incoming Chief Executive Officer, commented:

"I am excited to join the team at James Cropper and look forward to working with the Board, Executive team and wider workforce to deliver value across the business portfolio of advanced materials and paper and packaging products."

Steve Adams, Chief Executive Officer, commented:

"I have enjoyed my time at James Cropper tremendously both as Chief Executive Officer and previously with the Paper & Packaging Division over the last seven years. The Company has made great progress, and I am delighted to hand over to David Stirling for its next stage of growth. I wish all those at James Cropper the best for the future and thank them for their considerable support during my time with the Company."

Further information in accordance Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies relating to David Stirling is set out at the end of this announcement.

-ENDS-

Enquiries:

James Cropper plc
Mark Cropper, Non-Executive Chair

+44(0)1539 722002

Shore Capital - (Nominated Adviser and Broker)

Daniel Bush, David Coaten, Henry Willcocks, Lucy Bowden

Tel: +44 (0)207 408 4090

Burson Buchanan - Financial PR

Chris Lane, Charles Ryland, Jamie Hooper, Verity Parker

[email protected]

Tel: +44 (0) 207 466 5000

Regulatory Disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)

Save for the information set out above and below, there are no further disclosures to be made in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of David Burns Stirling, aged 58. David does not hold any interest in the Company.

Current Directorships

Briarwell Ltd

Macfarlane Group plc (from 1 January 2025)

Past Directorships

Azote Asia Ltd

KZ Trading and Investment Ltd

MuCell Extrusion LLC

T-FIT Insulation Solutions India Private Limited

Zotefoams Denmark ApS

Zotefoams International Ltd

Zotefoams Operations Ltd

Zotefoams plc

Zotefoams Poland Sp.z.o.o.

Zotefoams Technology Ltd

Zotefoams T-FIT Material Technology (Kunshan) Co., Ltd

Notes for editors:

James Cropper is a market leader in Advanced Materials and Paper & Packaging, centred around four market audiences: Energy Solutions, Composite Solutions, Luxury Packaging and Creative Papers.

A purpose-led business, built upon six generations of the Cropper family, James Cropper has a 600+ international workforce and an operational reach in over 50 countries.

Established in 1845, the Group manufactures creative papers, luxury packaging and advanced materials incorporating pioneering non-wovens and electrochemical coatings.

James Cropper is a specialist provider of niche solutions tailored to a unique customer specification, ranging from substrates and components in hydrogen electrolysis and fuel cells to bespoke colours and textures in paper and moulded fibre packaging designed to replace single use plastics.

The Group operates across multiple markets from luxury retail to renewable energy. It is renowned globally for service, capability, pioneering and multi award-winning commitment to the highest standards of sustainability.

James Cropper's goal is to be operationally net zero by 2030 and to reduce carbon through its entire supply chain to net zero by 2050.