Coats appoints Chief Financial Officer
- 02 Jun 2016
Coats, the world’s leading industrial thread and consumer textile crafts business, announces that Simon Boddie is to become Chief Financial Officer with effect from Monday 4 July 2016. Simon was previously Group Finance Director of Electrocomponents plc, the FTSE 250 industrial distribution business which operates in 32 countries worldwide, and is currently a Non-Executive Director at Michael Page International PLC, the FTSE 250 international specialist recruitment group.
Simon has over thirty years of experience in finance. He joined Electrocomponents as Group Finance Director in 2005 where he focused on international growth, e-commerce channel expansion, cost reduction, cash maximisation, financings and investor relations during a ten year career. Prior to Electrocomponents, he worked for Diageo, the leading international drinks business, for thirteen years where he held a variety of senior finance positions. Latterly, he was Finance Director of Key Markets which comprised fifteen mid-sized country markets around the world. Prior to that he was Finance Director for Global Supply and ran the integration of the beer and spirits supply operations to form a single global supply chain business.
Paul Forman, Group Chief Executive, Coats said: ‘This is a high calibre appointment of somebody with demonstrable FTSE 250 experience at the point Coats is looking to consolidate its FTSE 250 aspirations. Simon has extensive international operations, emerging markets and digital experience, an ideal fit for Coats given our global footprint and leading market positions. I am confident Simon will continue to drive the improvements we have made to our financial capabilities and support Coats in delivering our growth strategy.’
Simon started his career at Price Waterhouse, where he qualified as a Chartered Accountant. He spent six years in the Corporate Finance Team of Hill Samuel Bank, working across a range of transactions, including M&A, IPOs acand capital raisings.
Simon has an MA in Economics from the University of Cambridge. Simon is also a Governor of Rupert House School, an independent preparatory school, in Henley-on-Thames, Oxfordshire.
Simon replaces former Chief Financial Officer, Richard Howes who left in April 2016 to become Chief Financial Officer of Inchcape plc.
ENDS
For more information and to request a photo of Anne Fahy contact:
Kristina Blissett, Head of Communications kristina.blissett@coats.com
T +44 (0)208 210 5084, M +44 (0)7714 539887
Notes to Editors
About Coats
Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in more than 60 countries, Coats employs 19,000 people across six continents. Revenues in 2015 were US$1.5bn.
Coats’ pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Speciality threads and yarns in areas such as automotive and fibre optics; and extending the crafts offer into new markets and online.
Headquartered in the UK, Coats has a premium listing on the London Stock Exchange.
- Each year we make enough thread to go into 8 billion pair of jeans - that’s one for every person on the planet!
- Every month Coats produces enough thread to stretch all the way to the sun
- More than 450 million pairs of shoes are made every year using Coats’ thread
- More than 100 million car airbags are made using Coats’ Speciality thread every year
- In 1879 Thomas Edison used Coats’ thread in his experiments to invent the light bulb
- We’re experts in colour, last year we dyed thread and yarn in more than 150,000 different colours for our customers
- Our Red Heart knitting and crochet yarn brand has been named ‘America’s Most Recommended’ by the Women’s Choice Award
- Our flame retardant Speciality threads can withstand temperatures as high as 1,000 degrees Celsius
- Coats is the second largest supplier of zips to global brands