June 22, 2024
Corporates

Coats Group plc Announces Succession Plan For Group Chief Executive

Coats Group plc, a global leader in thread and structural components for apparel and footwear, alongside pioneering innovations in performance materials, has revealed a strategic succession plan for Rajiv Sharma, who will be stepping down from his role after an illustrious 14-year tenure with the company, serving as Group Chief Executive for the past eight years. Rajiv will bid farewell to the group by the end of 2024.

In a meticulously orchestrated transition, the board has appointed David Paja as Group Chief Executive designate, following an exhaustive selection process supported by external advisers. David, formerly CEO of GKN Aerospace within Melrose Industries PLC, brings a wealth of experience, having played a pivotal role in the successful turnaround and profitable growth of his previous ventures. Prior to his tenure at GKN Aerospace, David held leadership positions at Aptiv, Honeywell, and Valeo.

David Gosnell OBE, Chair of Coats, acknowledged Rajiv’s invaluable contributions, crediting him for spearheading the transformative journey of Coats during his tenure. Gosnell expressed confidence in David Paja’s appointment, citing his exemplary track record and aptitude to lead Coats into its next phase of growth.

Reflecting on his tenure, Rajiv Sharma expressed gratitude for the privilege of leading Coats, highlighting the company’s remarkable achievements during his stewardship. Under his guidance, Coats ascended to the London Stock Exchange and entered the FTSE 250 index, while undergoing a profound transformation into a focused B2B industrial entity.

In accepting his new role, David Paja conveyed his enthusiasm for the opportunity, emphasizing the promising growth trajectory of Coats and his commitment to building upon its strong foundation. Paja looked forward to collaborating with Rajiv and the Coats team, commencing his tenure as Group Chief Executive on 1 September 2024, with official responsibilities commencing on 1 October 2024.

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