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Sharma who had joined Coats in 2010 will be replacing Paul Forman, the current group chief executive, who will be leaving on December 31, 2016. Forman will be joining Essentra plc as the chief executive. Forman has been the group chief executive of Coats since December 31, 2009.
Sharma was appointed executive director of Coats in March 2015. Prior to joining Coats he worked at Honeywell, GE and Shell amongst others. His experience spans multiple disciplines, including M&A, digital and leading large complex businesses, in a range of industries, across five continents.
Speaking of his elevation in the company, Sharma said, “I am energised and excited to be taking on this new role. Paul is passing me the baton of a company in a market leading position, holding a strong strategic hand of cards. Superior customer experiences, motivated employees, innovation, digital and technology will be the pillars of our continuing profitable sales journey within a safe, respectful and inclusive workplace. I look forward to guiding Coats through its next positive chapter.”
“Paul has been working closely with me and the Board in order to identify the most appropriate time to step down and prepare for a seamless transition. In light of this, Coats has been considering both external and internal candidates and identified Sharma as the best suited individual for the role. He has strong leadership skills; a proven track record of running our core Industrial business and increasing its profitability; and has been fully involved in developing our corporate strategy,” Mike Clasper, chairman of Coats, said. (RR)
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