Coats Group plc, the leading thread and structural component manufacturer for apparel and footwear and a pioneer of performance materials, has announced succession plan for Group Chief Executive. Rajiv Sharma, the current Group Chief Executive has decided to step down from his role and leave Coats by the end of 2024. He has been with the company for 14 years and the last eight years as Group Chief Executive.
Coats Group’s Board has appointed David Paja as Group Chief Executive designate who would join as an Executive Director of the Board on 1st September 2024 and assume responsibilities from Sharma on 1st October 2024.
Commenting on the development, David Gosnell OBE, Chair of Coats, said “Rajiv has been instrumental in driving the transformation of Coats since being appointed Group Chief Executive eight years ago. He will leave us in a much stronger position, with a platform for accelerating profitable growth.”
“We are delighted to welcome David to the team. Having run a thorough search process, we are excited to have found a world-class candidate who has the experience and skills to deliver upon the next part of the Coats journey.”
Rajiv Sharma said “It has been a privilege to lead Coats. During my 14 years with Coats, the company was listed on the London Stock Exchange, entered the FTSE 250 and has been transformed into a pure B2B industrial-focused company. The growth strategy that is underpinned by sustainability, innovation, digital, and acquisitions is delivering results with industry-leading margins and cash. I congratulate David Paja on his appointment as the next Group Chief Executive and wish him and the team every success.”
David Paja, Coats Group Chief Executive designate, has expressed his pleasure and said “I am very excited about taking up the Group Chief Executive role, the growth prospects for Coats, and what we can achieve over the medium-term given the strong starting position. I look forward to working with Rajiv and the team from September.”
