Porvair appoints new chief executive, trades as expected

23rd Sep 2024 11:21

(Sharecast News) - Specialised porous materials provider Porvair announced the appointment of Hooman Caman Javvi as its new chief executive officer and a director on Monday.

The London-listed form said Javvi would join the company on 6 January 2025, and would officially take over the CEO role following the retirement of Ben Stocks after the annual general meeting scheduled for 15 April.

"The board is delighted to have appointed Hooman as our new chief executive officer," said chairman John Nicholas.

"He has a proven track record in industrial engineering businesses, and I look forward to supporting him to deliver the next phase of growth at Porvair."

Porvair said Javvi would bring extensive experience to Porvair, having most recently served as group chief operating officer and a board member at FTSE 250 company Hill & Smith.

Before that, he held senior management positions at Hitachi Energy and the ABB Group for over 11 years.

He holds an engineering and management degree from Linköping University in Sweden and an MBA from the Stockholm School of Economics.

"It's a privilege to have been selected to lead Porvair," Hooman Caman Javvi commented.

"The group has a consistent track record of growth, and I am excited about working with the team to build on the company's strong foundation for continued success."

In addition to the leadership change, Porvair updated the market on its trading for the third quarter, indicating that it had met management expectations.

The board said market trends remained consistent with those identified in the first half of the year, adding that it anticipated full-year earnings to exceed those of 2023.

Its order book remained robust, reflecting ongoing demand for its products and services.

Porvair put its strong long-term earnings outlook down to a number of global trends, including stricter environmental regulations, the expansion of analytical sciences, the increasing need for clean water solutions, the advancement of carbon-efficient transportation, the substitution of plastic and steel with aluminium, and the emphasis on manufacturing process quality and efficiency.

At 1046 BST, shares in Porvair were down 2.35% at 666p.

Reporting by Josh White for Sharecast.com.