LONDON – Element Materials Technology (Element) announced that its current CFO, Jo Wetz, will succeed Charles Noall as Element’s CEO beginning Dec. 31, 2019. This follows Noall’s decision to retire from his executive role after 17 years leading the group.
In his previous role as an investor at 3i, Wetz, alongside Noall, led the original buyout of Element in 2010 before joining the group in 2012 as CFO. In his eight years at Element, Wetz has been instrumental in growing the group from 23 locations across five geographies with 600 employees to Element’s position today as a fast-growing, privately held testing businesses with almost 200 locations operating in more than 30 countries with almost 7,000 employees.
Together with Noall, Wetz led the sale of Element to Bridgepoint in 2016, the subsequent privatization of the Exova Group in 2017 — a $1 billion transaction that doubled the size of the group — and at the end of 2018 concluded the transaction that welcomed Temasek as a significant minority shareholder.
Allan Leighton, Element’s Chairman, commented, “I am delighted that Jo is taking on the role of CEO. This leadership transition is a great example of succession planning and will provide strong continuity as Element pursues its vision of becoming the world’s most trusted testing partner.”
Wetz commented, “It has been a privilege to work alongside Charles and the rest of the Element management team over the last eight years as we have transformed the company into a global leader, recognized for supporting customers operating in some of the most complex and advanced industrial supply chains. I am hugely excited about leading Element’s talented management team on the next stage of our exciting growth journey.
“I am also delighted that Charles will remain on the board as a non-executive director, where his knowledge of the TIC sector and Element will continue to be a major asset. An active search for a new CFO is well underway, and we expect to announce an appointment shortly.”