​Coats Group lines up Gosnell as new chairman, Clasper steps down next May

By

Nigel TAYLOR

Published
Nov 24, 2020

Global industrial threads manufacturer Coats Group has appointed David Gosnell as chairman-elect. Gosnell, who is currently an independent non-executive director of Coats, will replace Mike Clasper who is set to retire from the post at the conclusion of the annual general meeting on 19 May 2021.

However, Gosnell will succeed him as chairman of the Nomination Committee with immediate effect. That means he will step down as chair of the Remuneration Committee from a date to be announced in due course.

Clasper brings an end to his chairmanship after nearly eight years year with the company. He joined the Coats board in 2015.

He said: “It has been a time of unprecedented corporate transformation [for Coats] including the merger of the Guinness Peat Group and Coats plc Boards, delisting from the Australian and New Zealand Stock Exchanges, re-listing on the London Stock Exchange and entry to the FTSE 250 as well as the recommencement of our acquisition programme". 

He added: “David is an ideal successor to continue the positive momentum we have created and I am confident he will be an excellent chairman'”.

Coats chief executive Rajiv Sharma added: “On behalf of the board I would like to thank Mike for his outstanding contribution as Chairman. His drive, determination and resilience have been an integral part of our transformation success. We all wish him well for the future. I look forward to continue working with David and building on the strong legacy that Mike will be leaving".