Technical textiles group Low & Bonar has appointed senior industry executive Daniel Dayan as its new chairman.
The move follows longstanding chairman Martin Flower’s decision to step down and retire from the business.
Mr Flower first joined Low & Bonar’s board 11 years ago and has served as chairman of the group – which was founded in Dundee more than 100 years ago as a jute merchanting group and which still has a carpet backing manufacturing hub in the city at Caldrum Works – for the past eight years.
Mr Flower’s successor will take up his new role on September 11.
Mr Dayan is currently group chief executive of German packaging, printing and specialty solutions group Klöckner Pentaplast and headed LINPAC Pacakging as CEO until its buy-out by his current employer last year.
He also served as non-executive Chairman of the Nonwovens Innovation and Research Institute from 2014 to 2016 and was CEO of global non-woven fabrics producer, Fiberweb plc, for eight years until 2013.
Trudy Schoolenberg, senior independent director, welcomed Mr Dayan to the board and paid tribute to Mr Flower’s contribution to the group.
“On behalf of the whole board, I would like to express my thanks and appreciation to Martin for his wise counsel and committed service to Low & Bonar during the past 11 years,” she said.
Mr Flower said it had been a pleasure to be involved with the group.
He said: “Despite the current challenges, Low & Bonar is a high-quality business with opportunities for profitable growth.
“I wish the company well.”
Mr Dayan said he looked forward to supporting Low & Bonar’s growth.
He said: “Low & Bonar has considerable potential to develop and create value.
“I look forward to getting to work immediately with the board as it continues to develop and implement Low & Bonar’s strategy to deliver sustainable, profitable growth.”