On April 19, Victrex announced that David Hummel (left in the picture) has notified the board of his intention to retire after 24 years as CEO. The board is pleased to announce that Jakob Sigurdsson, the former CEO of Promens, who has more than 20 years' experience in diverse multinational companies, will join the company on September 1, 2017, as CEO designate, following an extensive search process.

Dave, 59, will retire from the company on March 31, 2018. He will step down as CEO on September 30, 2017, but to enable an orderly transition he will remain on the board as an executive director, reporting to the chairman, until Victrex's AGM in February 2018. Jakob will succeed Dave as CEO and join the board on October 1, 2017.

Under Dave's leadership, Victrex has delivered significant shareholder value. Revenue increased from 31 million pounds in 1995 to over 250 million pounds in 2016, with earnings per share growing at more than 10% CAGR.

Jakob Sigurdsson, 53, has more than 20 years' experience in large multinational companies, both listed and private, including with Rohm & Haas (acquired by Dow Chemical) in the US, Alfesca in Europe, Promens, and currently as CEO of VIS.

Dave Hummel commented: "It has been a privilege to serve Victrex for so many years. I have every confidence in Jakob and believe that his diverse experience, his passion and curiosity, financial competence and capability will continue to drive the business forward".

Jakob Sigurdsson added: “I am proud and excited to be appointed CEO of such a highly regarded global company. I look forward to working with the board and the management team to deliver our strategic priorities and execute on our growth opportunities over the coming years".