Intertek announces change in Chief Financial Officer
14 Jan 2010
Intertek Group plc (Intertek), the leading provider of quality and safety services to a wide range of industries around the world, announces that Bill Spencer, Chief Financial Officer and Executive Director of the Group, will retire at the end of March this year. Lloyd Pitchford will be appointed as his successor.
Bill Spencer leaves Intertek after an 18 year career with the Group having played an instrumental role in its transformation and growth. Bill joined Intertek when it was a division of Inchcape plc and was Chief Financial Officer through the Group’s development, including the management buy out and acquisition by Charterhouse Development Capital in 1996 and then Intertek’s full listing on the London Stock Exchange in 2002. Today, Intertek is a FTSE 100 company.
Lloyd Pitchford joins Intertek as Group Chief Financial Officer and joins the Intertek Board as an Executive Director. For the past five years Lloyd has been Group Financial Controller for BG Group plc, one of the largest UK publicly listed companies and a global player in the exploration, production, distribution and supply of natural gas and oil. During his ten years with the BG Group, Lloyd progressed through various finance roles in corporate and operations, based in the UK and the Middle East. Previously Lloyd worked for seven years in commercial, M&A and finance roles for Mobil Oil Corporation. Lloyd is a Chartered Management Accountant with business and finance degrees from Heriot-Watt and Central England Universities.
The effective date of these changes is to be confirmed.
Vanni Treves, Chairman said:
"On behalf of Intertek, I would like to thank Bill for his dedicated service over the last 18 years and for the significant contribution he has made to the Group. He leaves with our gratitude and best wishes for the future.”
Wolfhart Hauser, Chief Executive Officer said:
“Bill has given valuable support and service to Intertek and the management of the Company. We wish him the very best for his retirement.
I am delighted to welcome Lloyd Pitchford to Intertek. Lloyd’s extensive international and management experience within large, complex and growing organisations will ensure that Intertek can continue to explore exciting opportunities across global markets. I am confident that Lloyd will ensure that the Intertek growth story continues unabated with ensuing shareholder value creation.
Bill Spencer, Chief Financial Officer said:
“I have spent the majority of my career at Intertek, and the last 15 years as the Group’s Chief Financial Officer. It has been a tremendous experience to be part of the management team that completed the buy out in 1996 and saw the company grow very successfully thereafter. I would like to thank the Company and the Board for giving me the opportunity to serve Intertek over this period.”
Under the UK Listing Rules, the Company is required to make the following disclosure. There are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Lloyd Pitchford.
Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain / Sophie Kernon, Financial Dynamics
Telephone: +44 (0) 20 7269 7291
richard.mountain@fd.com / sophie.kernon@fd.com
ABOUT INTERTEK
Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace. Intertek has the expertise, resources and global reach to support its customers through its network of more than 1,000 laboratories and offices and over 24,000 people in over 100 countries around the world. Intertek Group plc (ITRK) is listed on the London Stock Exchange in the FTSE 100 index.