Stelrad Group plc, the Newcastle-based international radiator firm, announced the appointment of former Marshalls plc CEO Martyn Coffey as independent non-executive director and chair designate with effect from May 1, 2026.
Coffey will succeed Bob Ellis as chair following the conclusion of the company’s AGM on May 20.
“Martyn Coffey is an accomplished Non-Executive Director with extensive board experience across the manufacturing, HVAC, building materials and construction sectors,” said Stelrad.
“Martyn is currently a Non-Executive Director at Taylor Wimpey plc and a Non-Executive Director and Chair of the Remuneration Committee at Luceco plc.
“His distinguished executive career notably included 11 years as CEO of Marshalls plc, a FTSE 250 company, and as CEO of Baxi Group, manufacturer of heating and hot water solutions.”
Stelrad CEO Trevor Harvey said: “I would like to thank Bob for his leadership during his tenure as chair.
“He has played a key role in Stelrad’s continued development. I look forward to working with Martyn as our new chair.
“He brings a valuable and complementary perspective from his executive and non-executive leadership roles, his experience in the UK listed company environment and his knowledge of the building products and HVAC industries.”
Ellis said: “I have greatly enjoyed my role as chair since 2013 and supporting the company’s progress since its flotation in 2021. I am very pleased to welcome Martyn to the board. He brings a strong external perspective, and I have every confidence in his leadership.”
Coffey said: “I am delighted to be joining Stelrad and enthused by the opportunity ahead. Stelrad is a quality business with excellent prospects, and I am looking forward to working with Trevor, Leigh, the board and wider team to deliver sustainable growth and drive value for our shareholders.”
Stelrad said Ellis “is expected to continue” to serve on the board.
The firm said: “The Bregal Fund III LP (the company’s Major Shareholder) has stated its intention to nominate Mr Ellis as one of its Non-Executive Director appointments pursuant to the relationship agreement with the Company, replacing Nicholas Armstrong who would retire from the Board at the conclusion of the 2026 AGM.
“Irrespective of Mr Ellis’s nomination, or (re)election, as a director appointment of the Company’s Major Shareholder, as a holder of 49.55% of the issued share capital of the Company, the Company’s Major Shareholder will continue to be bound by the mandatory offer provisions under Rule 9 of the Takeover Code.
“As previously announced, Martin Payne, Non-Executive Director and Chair of the Audit and Risk Committee, has notified the Board that he will not be standing for re-election and will retire from the Board at the conclusion of the 2026 AGM. A replacement Non-Executive Director and Chair of the Audit and Risk Committee will be appointed in due course.”