Heejae Chae steps down as CEO of Scapa

After ten years with the Company, Heejae Chae to step down as Group CEO

21 May 2019

Heejae Chae intends to step down as Group Chief Executive of Scapa Group

Scapa Group plc (AIM: SCPA), a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers, announces that after ten years with the Company, Heejae Chae has informed the Board of his intention to step down as Group Chief Executive and member of the Board. A search and selection process is underway and Heejae will remain with the Company to ensure a smooth transition to a new Group Chief Executive.

Larry Pentz, Chairman of Scapa, commented:

"On behalf of the Board, I would like to thank Heejae for his excellent leadership and impressive contributions to Scapa since joining as Group Chief Executive in 2009. During his ten-year tenure, Heejae has delivered significant growth, greatly improved efficiency and built firm foundations, setting a strategic blueprint that will continue to drive future growth. Under his leadership, the business transformed financially and strategically.  Scapa is a high performing global organisation underpinned by an entrepreneurial culture which has delivered significant shareholder value. As a result, Scapa is financially stronger with a successful strategy and is well placed to deliver on its many future growth opportunities. We wish Heejae well, when he eventually leaves us after working through a smooth transition with his successor.”  

Heejae Chae, Group Chief Executive of Scapa, added:

"It was a difficult decision to step away from my post as Group Chief Executive of Scapa, but I feel now is the right time to bring in new leadership to deliver the next phase of our growth strategy. I have been with the Company through many chapters of its growth, from a predominantly industrial business to a significant sized international company now predominantly healthcare focused. I consider myself privileged to have worked with such esteemed colleagues and partners during my tenure. I remain committed to Scapa during this transition period and am confident that the business is poised to continue to deliver long-term sustainable growth from the current strategy.”

For further information:

Scapa Group plc:

+44 (0) 161 301 7400

Wendy Baker

 

Group General Counsel and Company Secretary

 

 

 

Numis Securities Limited (Nominated Adviser and Joint Broker)

+44 (0) 20 7260 1000

Mark Lander

 

Richard Thomas

 

 

 

Berenberg (Joint Broker)

+44 (0) 20 3207 7800

Chris Bowman

 

Toby Flaux

 

 

 

FTI Consulting (Media Relations):

+44 (0) 20 3727 1000

Brett Pollard

 

Victoria Foster Mitchell

 

About Scapa Group plc

Scapa Group plc is a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers.

Healthcare
Scapa Healthcare is the trusted strategic partner of choice for the world’s leading companies in Advanced Wound Care, Consumer Wellness and Medical Device Fixation. We partner with the top global MedTech companies to develop and manufacture innovative skin friendly medical device fixation and topical solutions, from inception through to market delivery, from our state-of-the-art facilities.

For further information, please visit www.scapahealthcare.com

Industrial
Scapa Industrial is a global supplier of bonding solutions and manufacturer of adhesive-based products which offer meaningful value in industrial applications due to their lightweight, easy-to-apply properties. We are recognised for our unparalleled range of products, including adhesive tapes, films and foams, and we can engineer custom designs for even the most unique applications.

For further information, please visit www.scapaindustrial.com