TIDMTIFS

RNS Number : 8795N

TI Fluid Systems PLC

07 June 2022

7 June 2022

TI Fluid Systems plc

(the "Company")

Directorate and Committee Changes

The Board of TI Fluid Systems plc is pleased to announce the appointment of Jane Lodge as an Independent Non-Executive Director of the Company effective 6 June 2022. She will also chair the Company's Audit & Risk Committee.

Jane currently chairs the audit committees at FirstGroup plc and Bakkavor plc and chairs the remuneration committee at Glanbia plc. During the past ten years, Jane has also served on the boards of other leading companies in the FTSE 100 and 250 indices, including DCC plc, Costain Group plc, Devro plc, and Sirius Minerals plc. From 1976 to 2011, Jane held various management and leadership roles at Deloitte LLP, becoming a partner in 1986. As a lead audit partner, she worked predominately with multi-national businesses in the manufacturing, engineering, and industrial sectors, including a global automotive OEM.

In conjunction with Jane's appointment and the Board's previously announced transition plan, Jeff Vanneste has stepped down from the Board effective 6 June 2022.

Tim Cobbold, the Company's Non-Executive Chairman, said:

"We are delighted to welcome Jane Lodge to our Board. She brings with her extensive boardroom knowledge, audit and financial expertise and a broad understanding of the manufacturing industry, all of which will further strengthen and enhance the capabilities of our Board. We look forward to working with her.

I would also like to thank Jeff Vanneste for his service and many contributions to the Company. The entire Board wishes him well on his future endeavours."

In addition, the Board has approved the following changes to the composition of its committees with effect from 6 June 2022:

Audit & Risk Committee

Jane Lodge has been appointed to the Committee and will serve as Chair (replacing Jeff Vanneste). The Audit & Risk Committee composition will, therefore, be Jane Lodge (Chair), John Smith and Elaine Sarsynski.

Nomination Committee

Julie Baddeley has been appointed to the Committee (replacing Manfred Wennemer), and Tim Cobbold will serve as Chair. The Nomination Committee composition will, therefore, be Tim Cobbold (Chair), Julie Baddeley and Stephen Thomas.

Remuneration Committee

Julie Baddeley and Jane Lodge have been appointed to the Committee (replacing Jeff Vanneste and Tim Cobbold), and John Smith will serve as Chair. The Remuneration Committee composition will, therefore, be John Smith (Chair), Julie Baddeley and Jane Lodge.

ESG Steering Committee

Susan Levine has been appointed to the Committee. The ESG Steering Committee composition will, therefore, be Elaine Sarsynski (Chair), Julie Baddeley, Susan Levine, Hans Dieltjens and Ron Hundzinski.

The Nomination Committee continues the process to recruit another independent non--executive director to ensure the Board maintains a broad mix of market knowledge and relevant experience to support the Company's strategic aims and the Board's management objectives. In connection with that process, the composition of the Nomination Committee remains under review and is likely to change further once another independent non--executive director is appointed to the Board. More detail will be made available as appropriate.

Enquiries:

TI Fluid Systems plc

Pilar Riesco

Investor Relations

Tel: +34 607 577 830

FTI Consulting

Richard Mountain

Nick Hasell

Tel: +44 (0) 20 3727 1340

About TI Fluid Systems plc

TI Fluid Systems plc, (LSE: TIFS) is a leading global manufacturer of highly engineered automotive fluid storage, carrying and delivery systems primarily for the light duty automotive market. With nearly 100 years of automotive fluid systems experience, TI Fluid Systems has manufacturing facilities in 104 manufacturing locations across 29 countries serving all major global OEMs.

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June 07, 2022 02:01 ET (06:01 GMT)

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