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Smiths Group taps Paul Keel for CEO
25th May 2021 08:11
(Sharecast News) - Engineering business Smiths Group said on Tuesday that after an extensive search, Paul Keel had been appointed to the company's board as chief executive officer, with immediate effect.
Smiths Group stated that current CEO Andy Reynolds Smith would step down from his position but will continue to be available until the end of the fiscal year in order to ensure a smooth handover.
The FTSE 100-listed firm added that the change had been "mutually agreed" as it looks to enter into its next growth phase.
Before taking up the role at Smiths, Keel previously worked at 3M between 2004 and 2020, within the US and UK.
Chairman Sir George Buckley said: "On behalf of the board, I would like to thank Andy for his leadership and contribution to the group, its employees, customers and stakeholders for almost six years.
"I am also delighted to welcome Paul to Smiths. He has a strong track record of delivering results in other innovation-led and diversified global industrial technology businesses. His international experience positions him well to build on the progress made during Andy's tenure and allows Smiths to deliver on its significant potential as it enters its next growth phase."
As of 0810 BST, Smiths shares were down 0.51% at 1,551.50p.
Smiths Group stated that current CEO Andy Reynolds Smith would step down from his position but will continue to be available until the end of the fiscal year in order to ensure a smooth handover.
The FTSE 100-listed firm added that the change had been "mutually agreed" as it looks to enter into its next growth phase.
Before taking up the role at Smiths, Keel previously worked at 3M between 2004 and 2020, within the US and UK.
Chairman Sir George Buckley said: "On behalf of the board, I would like to thank Andy for his leadership and contribution to the group, its employees, customers and stakeholders for almost six years.
"I am also delighted to welcome Paul to Smiths. He has a strong track record of delivering results in other innovation-led and diversified global industrial technology businesses. His international experience positions him well to build on the progress made during Andy's tenure and allows Smiths to deliver on its significant potential as it enters its next growth phase."
As of 0810 BST, Smiths shares were down 0.51% at 1,551.50p.