Sussex-headquartered Trifast appoints Serena Lang as non-executive director/chair elect
Sussex-headquartered global industrial fastenings business Trifast told investors that experienced executive Serena Lang had been appointed to its board as a non-executive director/chair elect.
Current chair Jonathan Shearman will step down from the board on September 14 this year and Lang will take over as chair from this date.
Lang is an experienced FTSE chair and board member and her career has spanned more than 20 years across multi-sector industries both in the UK and internationally.
From 2003 to 2007, she worked for oil giant BP and was recognised as one of its top 100 employees. She then spent five years with Invensys where she held senior management roles including managing the BP account and then as regional chief executive, North West Europe & Africa.
Since then, she joined Eleco plc and was part of the team that oversaw management succession and its transition to a SaaS business.
Over a nine-year tenure she held the roles of non-executive director, SID and chair of the PLC board until May 2023 when she stepped down from her role. Her current non-executive directorships include Henry Boot PLC and Ainscough Crane Hire Limited.
Clive Watson, senior independent director at Trifast said: "The board would like to acknowledge the hard work, commitment and dedication that Jonathan has afforded to the overall business over his 14-years with Trifast.
"He joined as NED in 2009 and became Non-Executive Chair in 2020. On behalf of everyone around the globe whom Jonathan invested time to get to know and mentor we thank him for his wise counsel, support and contribution particularly over the more recent challenging times. We wish Jonathan and his family well for the future."
On Lang's appointment, he added: "Her extensive leadership, experience and skills will enhance the team's capabilities and we all look forward to working with her and taking the Trifast business forward as it focuses on the future and delivering its growth strategy."
Also in the statement, Trifast said its search for a permanent CEO has been progressing well with a further announcement on this being made in "due course".
It comes as it was reported on August 9 that a guarantee from UK Export Finance (UKEF) had secured a £50 million loan for Trifast, allowing the company to develop new product ranges and make targeted investments supporting export growth.
This will include the development of a 75,000 sq ft national distribution centre in the Midlands for its UK subsidiary TR Fastenings. After acquiring the facility in June this year, Trifast expects to open the distribution centre this autumn.
The Export Development Guarantee issued by UKEF backs financing arrangements from HSBC, NatWest, and Citi.
Philip Lewis, the global co-head of export finance for HSBC, had said: "We are delighted to have supported Trifast by arranging this landmark transaction, which will support the continued execution of the group’s international growth strategy and drive further technical innovation across the geographies and sectors in which it operates."
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