5
Strategic Review
Performance Review
Corporate Governance
Financial Statements
Introduction
Annual Report and Accounts 2014
Board details
Turn to page 44
Corporate Governance
Turn to page 47
Group Overview
Dividend per share
+7%
2013
2014
30
40
20
10
35.3p
37.6p
Pence
+7%
78.0p
72.6p
2013
2014
60
80
40
20
Pence
Adjusted EPS
consideration of
e
153m (£118m). This acquisition, which
completed at the beginning of 2015, is a significant and
important first step in our acquisitive growth plan. It significantly
enhances our presence in the growing power market and
increases our Critical Engineering division’s growth prospects.
Board changes
In September 2014 we announced the retirement of Douglas
Hurt as Finance Director. Douglas has been in the role since
2006 and has played a major part in IMI’s development over
the course of the last eight years. Douglas will be succeeded
by Daniel Shook who joined us in January 2015 and who
will become Finance Director on 1 March 2015. Daniel was
previously Chief Finance Officer at Borealis AG and brings with
him over 20 years of financial management experience across a
range of industrial sectors and a strong international perspective.
Ross McInnes joined the Board as a non-executive director
on 1 October 2014. He took over as Chairman of the Audit
Committee on 1 January 2015 after Phil Bentley stepped
down from the Board at the end of the year. Anita Frew,
our senior independent director, will retire after nine years
as a non-executive at the Annual General Meeting (AGM) in
May 2015. Bob Stack will succeed Anita as senior independent
director immediately following the AGM. On behalf of the Board
I would like to thank Anita, Douglas and Phil for the significant
contributions they have all made to the Board and IMI.
Finally, following the announcement of my appointment to the
Board of WPP plc, I confirmed that I intend to step down as
non-executive Chairman. An external search for my successor
is well underway, led by Anita Frew, and I will be remaining with
IMI until your new Chairman is identified.
Our people
IMI is a very special Company with many strengths – world-
class engineering skills, long standing customer relationships
and great people. The progress we have made this year has
involved a great deal of hard work and I would like to take
this opportunity to thank all our employees for their ongoing
commitment, passion and support.
Summary
I have been proud to be your Chairman. Since I joined in 2011
much progress has been made preparing the Group for the
next phase of its development. The Group has adopted a
new strategic growth plan, strengthened the Board with
new director appointments and recruited Mark Selway as
the new Chief Executive. IMI is now on a positive track to
deliver sustainable accelerated top and bottom line growth.
I wish Mark, his team and everyone at IMI much success in
the future.
