Zotefoams Plc (LON:ZTF), a world leader in cellular materials technology, has announced the appointment of Malcolm Swift as a Non-Executive Director of the Company and Chair of the Remuneration Committee with effect from 29 September 2023, following a search process led by the Chair of the Company and supported by Korn Ferry. Malcolm will also join the Audit and Nomination Committees.
Malcolm is an Executive Vice President of McCormick & Co, a company listed on NYSE, from which he will retire at the end of 2023. He joined the company in 2005 and has held a series of executive positions, including President Global Flavour Solutions and Chief Administrative Officer. He is President of the European Brands Association, an organisation representing 2,500 businesses in Europe, from SMEs to multinationals and has held Non-Executive directorships with Devro plc and Stolt Sea Farm Holdings plc.
Zotefoams also announces that Dr Alison Fielding has informed the Board of her intention to step down as Non-Executive Director and Chair of the Remuneration Committee with effect from 29 September 2023 to devote more time to her other activities.
Commenting on Malcolm’s appointment and Alison’s departure, Dr Lynn Drummond, Chair of the Company commented:
“I am delighted to welcome Malcolm to the Zotefoams Board of Directors. His international experience and extensive B2B skill sets will support our growth agenda and he will be a valuable addition to the Board. I am looking forward to working with him.
“Ali leaves with our sincerest thanks for her insightful contribution to strategic and commercialisation issues. We also appreciate her leadership of the Remuneration Committee, including the recent shareholder consultation for our Remuneration Policy renewal, which received 97% approval. We wish her well for the future.”
Malcolm Swift said: “Zotefoams’ ambitious strategy, unique environmentally friendly technology and global markets present significant opportunities for growth. I am delighted to be part of the next stage of a business focused on delivering long-term, sustainable returns in the interests of all its stakeholders.”
Zotefoams plc (LSE – ZTF) is a world leader in cellular materials technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE® polyolefin and ZOTEK® high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets. Zotefoams also owns and licenses patented microcellular foam technology to reduce plastic use in extrusion applications and for ReZorce® mono-material recyclable barrier packaging.
Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky, USA, Brzeg, Poland (foam manufacture), Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA, Stilling, Denmark (microcellular foam technology) and Jiangsu Province, China (T-FIT).
