Appointment of Chief Financial Officer
The Board of NSG Group announces the appointment of Mark Lyons as Chief Financial Officer (Finance Director) of NSG Group. Mr. Lyons, who has been President Building Products Worldwide since 2007, replaces Mike Powell, who has decided to take up a senior appointment outside the Group.
As Chief Financial Officer, his responsibilities will be identical to those of Group Finance Director, with overall responsibility for all aspects of the work of the Group's Finance function, including corporate, operational, and business line finance. The Company is taking this opportunity to change the job title to bring it into line with international practice and to underline the global nature of the NSG Group. Mark Lyons will be based in the UK and Japan, reporting to Craig Naylor, President and CEO NSG Group.
Craig Naylor said ‘Mark Lyons has led our Building Products business over the past four years. He brings to the job of CFO considerable experience in both finance and general management at a senior level within the glass industry, and is already well known in the financial community. His experience will be invaluable in the implementation of our Strategic Management Plan and beyond.
I take this opportunity to thank Mike Powell for his strong contribution over 22 years with the Company, and in particular for his leadership of the Finance function over the past four and a half years. We wish him well in his future career.’
Mike Powell and Mark Lyons will begin a handover period immediately. Both will attend the usual results presentation for analysts and investors in Tokyo on 12 May 2011, following the announcement of the Group's full-year results for the year ending 31 March 2011.
The effective date for the formal transfer of responsibilities will be 29 June 2011, following the 145th Ordinary General Meeting of Shareholders, at which Mr Lyons will be seeking re-election as a director of the company, and after which date Mr Powell will leave the NSG Group.