REG - Tristel PLC - Appointment of CEO

TristelAnnouncement

10/06/2024 07:00

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RNS Number : 6974R  Tristel PLC  10 June 2024

Tristel plc

("Tristel" or the "Company")

 

Appointment of CEO

 

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products,
announces the appointment of Matthew ("Matt") Sassone as Chief Executive
Officer ("CEO") and to the Tristel Board, with effect from 2 September 2024.
Matt's appointment follows the conclusion of a competitive selection programme
and he will replace Paul Swinney, the Company's founder and CEO of 30 years,
who announced his plans to retire during 2023. Paul will remain with the
Company for a suitable period to allow for a successful transition of
leadership.

 

Matt joins Tristel from Masimo Corporation (NASDAQ: MASI), a global medical
technology company, where he is Senior Vice-President Marketing. During his
tenure at Masimo, Matt lived and worked in the USA, gaining invaluable
experience in the American healthcare market. He has over 27 years' experience
in the medical industry in various sales, marketing, business development and
senior management roles. He joined the Board of AIM-listed cardiovascular
monitoring company, LiDCO Group Plc ("LiDCO"), in June 2015, becoming CEO in
August 2015. LiDCO was bought for £31m by Masimo in February 2021.

 

Matt started his career in sales for Quintiles in 1996. He spent 12 years at
Smiths Medical in various sales, marketing and business development roles
achieving the role of Managing Director, Northern and Eastern Europe and
Russia in 2010 where he had full P&L responsibility for 300 employees and
£150m of revenue. In 2012 he moved to ArjoHuntleigh, a division of the
Getinge Group, as Senior Vice President Global Marketing and was Chief
Marketing Officer of Maquet (turnover £1.1 billion in intensive care, surgery
and anaesthesia systems), also a division of Getinge. Matt has a degree in
biochemistry with microbiology, a diploma in management studies and a CIM
diploma.

 

Matt Sassone, new CEO of Tristel plc

 

Matt Sassone, incoming CEO of Tristel, commented: "I am deeply honoured to
join Tristel as its new Chief Executive Officer. Tristel has a well-earned
reputation for innovation and excellence in infection prevention, and I look
forward to leading this exceptional business. My focus will be on building on
Paul Swinney's strong foundation, capturing global opportunities, and
expanding our presence in key markets like North America. Together, we will
continue to drive growth and deliver exceptional value to our customers and
stakeholders."

Paul Swinney, Founder and out-going CEO of Tristel, commented: "I am excited
to hand the reins of this marvellous company to Matt. We have become the
global market leader in manual high-level disinfection of medical devices and
now have a foothold in the world's largest healthcare market. Matt's
first-hand experience of North America will propel us to great success there.

 

"In our time on AIM we have succeeded in increasing our share price by almost
12 times and have returned over 75 pence per share in dividends to our
shareholders. I think we have created a great UK success story.

 

"I have had the great pleasure to work with an exceptionally talented and
committed team at Tristel, who I am sure will provide their new CEO the same
level of support and assistance that I have received. In the coming months I
will leave Tristel in excellent shape, very well led, and as an enthusiastic
shareholder of the Company.

 

Bruno Holthof, Chair of Tristel, commented: "We are very pleased Matt is
joining as our new CEO. His understanding of the AIM market, the global
medical device industry and the American healthcare market will enable the
Company to continue its growth drive. He will be supported by a committed
senior management team that has built Tristel over its 20 years as a public
company. The Board is confident that fusing the energy of new leadership with
the organisation's remarkable domain knowledge of the infection prevention
market will secure Tristel's continuing success.

 

"On behalf of the Board, the wider team at Tristel, and all of the
shareholders in Tristel over the years, I would like to thank Paul for his
leadership and stewardship. Paul has built a world-class business based on our
unique biocidal chemistry formulation; he has brought together an outstanding
team with the energy and ambition to deliver further success; and he has
delivered significant value to shareholders. Paul should be rightly proud of
his legacy, having created a successful and globally-recognised infection
prevention business that is making a significant difference to patients and
health facilities around the world."

 

Additional Disclosures Required under the AIM Rules for Companies

Matthew Giovanni Sassone (aged 49) has held the following directorship or
partnerships in the past five years:

 

Current directorships and partnerships:

·    LiDCO Limited

·    LiDCO Group Limited

·    LiDCO Netherlands, B.V.

·    Masimo LHC Limited

 

Previous directorships and partnerships held in the past five years:

·    Cassette Analytical Systems Limited (dissolved on 2 January 2024)

 

There is no further information to be disclosed in relation to the appointment
pursuant to Rule 17 and Schedule Two, paragraph (g) of the AIM Rules.

 

For further information please contact:

 Tristel plc                            Via Walbrook PR
 Paul Swinney, Chief Executive Officer  www.investors.tristel.com (http://www.investors.tristel.com/)
 Liz Dixon, Chief Financial Officer

 Walbrook PR Ltd                        Tel: 020 7933 8780 or tristel@walbrookpr.com
 Paul McManus                           Mob: 07980 541 893
 Charlotte Edgar                        Mob: 07884 664 686

 Cavendish Capital Markets Limited      Tel: 020 7220 0500
 Geoff Nash/ Charlie Beeson (Corporate Finance)
 Sunila de Silva (Corporate Broking)

 

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