Coats names Devro's Callaway as CFO designate

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.