Weir Group announces more board changes

Barbara Jeremiah

Weir Group, the Glasgow-based global mining and engineering FTSE 100 firm, announced that Nick Anderson has been appointed to its board as an independent non-executive director with effect from May 15, 2024.

Anderson, who will join Weir’s audit, nomination and remuneration Committees upon appointment, retired from Spirax-Sarco Engineering plc in January this year after 10 years as group CEO of the FTSE 100 industrial engineering company.

Weir also announced that independent non-executive director Stephen Young has informed the board of his intention to retire for personal reasons with effect from July 31, 2024.

Andy Agg will succeed Young as chair of the audit committee.

Weir has 12,000 employees operating in over 50 countries with a presence in every major mining region of the world. The company’s board has undergone big changes in recent months.

Weir shares have risen 18% over the past 12 months to more than £21 each, giving the group a stock market value of about £5.5 billion.

“Nick (Anderson) joined Spirax-Sarco in 2011 as Director EMEA for the group’s Steam Specialities business,” said Weir.

“He was appointed to the board in March 2012, became chief operating officer in August 2013 and group chief executive in January 2014.

“Prior to Spirax-Sarco, Nick worked for Smiths Group plc as vice-president of John Crane Asia Pacific based in Singapore and president of John Crane Latin America, based in the US.

“Nick has also worked for Alcoa Aluminio in Brazil and Argentina and for the Foseco Minsep Group plc in Brazil …

“At the date of this announcement, Nick is currently a non-executive director of BAE Systems plc and has been appointed as a non-executive director of Spectris plc with effect from 1 June 2024.”

Weir chair Barbara Jeremiah said: “On behalf of the board, I am delighted to welcome Nick to Weir.

“Nick has a wealth of experience as a leader in international engineering and manufacturing operations. The skills and experience he brings in growing global businesses will be a great asset and enhance our ability to achieve Weir’s strategic objectives.

“I also wish to thank Stephen for his many contributions to the work of the board and the audit committee over the course of his tenure and we will miss his counsel and advice.

“On behalf of the company and the board, we wish Stephen all the best for the future.”