Stemcor appoints Interim Group Chairman

04 October 2013

Following Ralph Oppenheimer’s retirement as Group Chairman on 13th September, Stemcor is pleased to announce that it appointed John Soden as Interim Group Chairman on 23rd September.

John Soden has extensive experience as a business restructuring and turnaround specialist and in Private Equity, developing and building businesses.  He was a partner in PwC for many years and then spent 11 years as Managing Director and then Chief Executive Officer of Citigroup Capital UK Limited (formerly Nikko Principal Investments), where he had overall responsibility for transaction and portfolio management.  He is currently the Senior Non-Executive Director of Catalina Holdings (Bermuda) Limited, a leading consolidator of non-life insurance portfolios in run-off. 

Commenting on his appointment, John Soden commented:
“I am delighted to be joining Stemcor, a business with a long and proud history. The Group is making solid progress with its restructuring, repayment and refinancing plans. I look forward to working with the executive team to get Stemcor back on a strong footing.”

Julian Verden, Chief Executive Officer of Stemcor, said:
“We are delighted to welcome John to the Board. As an independent Chairman, John will provide vital support and objective guidance to both me and the Board. We will benefit from John’s extensive experience in business turnaround and developing businesses as we work to lay down new foundations for future growth.”