Smiths Group plc (“Smiths” or “the Group”), announces that Clare Scherrer, Chief Financial Officer (“CFO”), has informed the Board of her decision to retire from Smiths. She will remain as CFO until 31 January 2025 and will continue to support a smooth and orderly handover through the H1 FY2025 results until she leaves on 30 April 2025.
Reflecting the Board’s robust succession planning process, Julian Fagge, currently President of Smiths Interconnect, has been appointed as the Group’s CFO and as an Executive Director to succeed Clare. Julian will take on his new responsibilities with effect from 1 February 2025. Julian is a highly regarded leader at Smiths, with broad financial, strategic and commercial experience.
Julian joined the Group in 2013 as Group Financial Controller and was appointed as Group Strategy and M&A Director in 2017. In addition, he has successfully led two of the Group’s businesses, being appointed President of Flex-Tek in 2019 and then Smiths Interconnect in 2021. Prior to joining Smiths, Julian was Finance Director for UK and Ireland at Royal Caribbean Cruises and before this, he worked for 12 years at Procter & Gamble. Julian is also a non-executive Director for NASCIT plc. He qualified as a chartered accountant.
Steve Williams, Chairman of Smiths Group, said: “Julian is a proven leader within Smiths Group and ideally placed to become the new CFO of Smiths. He has a deep understanding of our businesses, end markets and customers, and he has a strong financial, commercial and strategic background. Together, our CEO Roland and Julian have more than 45 years of experience at Smiths, have run three of our four businesses and have an unparalleled knowledge of the Company and its growth and value drivers.
“On behalf of the Board, I would like to thank Clare for her significant contribution to Smiths Group. She has played an important role in our growth story over the last three years, and we wish her all the very best.”
Roland Carter, Chief Executive of Smiths Group, said: “Julian becomes our CFO at a very exciting time as we continue to drive sustainable growth, as evidenced by today’s upgrade. Julian has a strong track record of strategic execution. I would personally like to thank Clare for all she has done for Smiths and her support since I became CEO. Clare has played an important role in delivering the success we have collectively achieved in recent years. I wish her all the best for the future.”
Julian Fagge said: “It is a great privilege to be appointed as the new Smiths CFO. Having worked across the business in a number of roles, I am excited about the future and I look forward to supporting Roland, the Board and the leadership team in achieving our strategic, financial and operational objectives for the benefit of all our stakeholders.”
Clare Scherrer said: “I am very proud to have served as Smiths Group’s CFO. It has been an honour to have worked with so many talented and passionate colleagues. The future for Smiths is bright and I look forward to seeing the Group continue to go from strength to strength.”