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Guinness Peat Group Appoints Mike Clasper As Chairman(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Guinness Peat Group PLC said Wednesday that it had appointed non-executive Director Mike Clasper as chairman, succeeding outgoing Chairman Rob Campbell. The company, which is a thread and textiles investment company, is planning to relaunch as its thread manufacturing subsidiary Coats PLC. Campbell will remain as a non-executive director of the company as it transitions towards this relaunch. Clasper is currently the chairman of Coats. The company is continuing to navigate issues with pension schemes at its investments. In December 2013 it received warning notices from the UK Pensions Regulator regarding the Brunel Holdings Pension Scheme and Staveley Industries Retirement Benefits Scheme. Guinness said it continued to engage with the UK Pensions Regulator to resolve the ongoing issues with the schemes. It cautioned that it was still too early to predict the outcome, but noted that if it is unable to negotiate the issue, a hearing with the pensions regulator will not happen any earlier than the second half of the current financial year. The company also appointed Ruth Anderson as a non-executive director and chair of its audit, finance and risk committee. Anderson currently holds this position at Ocado Group PLC and Travis Perkins PLC, and is a member of the board of Coats. Shares in Guinness Peat were trading up 2.3% at 35.80 pence. Copyright © 2014 Alliance News Limited. All Rights Reserved. |