Malcolm Diamond will retire as chair of Trifast plc and will be succeeded by Jonathan Shearman.

Shearman has been a Trifast director and chair of the remuneration committee. His career includes investment fund management, stockbroking, investment banking and charitable foundations. Shearman’s career developed in M&A, strategic planning and forecasting and he joined Trifast in 2009.

Diamond reflected on his 45 years in the industry –  25 years of those in PLC arena, “has enabled me to offer commercial and strategic support and mentorship to the next generation of leadership teams.”

“Having overseen the smooth CEO and CFO succession plan at Trifast as well as the adoption of the transformational ‘Project Atlas’, now halfway through its four-year implementation, I feel comfortable in retiring as chair at the end of March 2020 knowing that the TR Board and the business is in such good shape.”

Diamond noted Trifast has “enjoyed long term shareholder and broker loyalty and support since we floated in February 1994, for which I shall always be appreciative.”

Shearman noted that “over the years I have enjoyed the challenge and work ethic at Trifast and its culture which has been a critical component to the success of the business, and it remains key to TR’s future growth. I look forward to continuing to work alongside the Trifast team in driving the next stage of this international business’ transformation.”

CEO Mark Belton observed that during his 20 years with Trifast, Diamond “has played a key mentoring role from which I and many of the senior team have been lucky enough to gain invaluable commercial, PLC experience and stakeholder engagement; this provided me with the knowledge base that has helped me develop my roles at Board level and today as CEO. On behalf of the staff around the globe, my main Board colleagues and all stakeholders, I thank him for his contribution to the success of the business over many years.”   

Trifast provides engineering, manufacturing and distribution of industrial fastenings to global assembly industries. Trifast has 32 locations within the UK, Asia, Europe and the U.S., and is headquartered in East Sussex, UK. Web: Trifast.com