Change of ESAB leadership

Michael Foster, Chief Executive, has tendered his resignation to the Board of Charter International plc and the Board has agreed that he should step down with immediate effect.

The Board of Charter has started a process to find a replacement who will be recruited from outside the group.

Lars Emilson (the Chairman of Charter) will assume executive responsibilities in the interim period.

Charter also announces that Brendan Colgan has been appointed Chief Executive of ESAB, with immediate effect.

Brendan Colgan - biographical details:

Brendan Colgan was appointed in 2010 as Managing Director of Strategy & Development for ESAB Global with executive responsibility for China, North & South East Asia, Sub-Saharan Africa, the Middle East and North America.

Previously Brendan was Chief Executive Officer of ESAB North America, Chief Financial Officer of Anderson Group Inc., Chief Financial Officer of Howden North America and Chief Financial Officer of Howden Australia.

He has a degree in accounting from the University of Ulster, is a Harvard AMP Graduate and a Fellow of The Chartered Institute of Management Accountants.

http://www.charter.ie/chtr_int/media/releases/2011releases/2011-06-27/