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IMI PLC on Tuesday named experienced board leader Jamie Pike as its next chair, as current Chair Lord Smith of Kelvin prepares to leave the company next year. The Birmingham, England-based engineering company said Pike will be appointed as chair with effect from January 1, 2025. Lord Smith, who joined IMI’s board in 2015, will seek re-election at its 2024 annual general meeting ‘to facilitate a smooth transition’ before stepping down on December 31. Chief Executive Officer Roy Twite said he was ‘delighted’ by Pike’s appointment, adding: ‘He brings a wealth of listed board experience and a deep understanding of engineering.’ Pike is currently chair of the FTSE 100-listed thermal energy management and pumping company, Spirax-Sarco Engineering PLC. The Cheltenham, England-based company had previously announced Pike’s upcoming departure, following the expiry of his nine-years as a director. Pike is also currently chair of XP Power Ltd, a Singapore-based designer and manufacturer of power controllers. He has previously served as chair of Cobham PLC and of RPC group PLC, and as Chief Executive of Burmah Castrol Chemicals. ‘I am excited to be joining the team at IMI,’ Pike commented. ‘The company has a clear strategy rooted in its purpose of breakthrough engineering for a better world. Under Roy’s leadership, the business has been transformed and I am looking forward to working with the board and wider team to continue creating value for all of IMI’s stakeholders.’ Shares in IMI were trading 1.4% higher at 1,685.00 pence on Tuesday in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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