Pilkington Chief Floats Back To The Top

The chief executive of Pilkington is to take on a beefed-up executive role at its Japanese parent months after steering the British glassmaker through its £2.2bn takeover.

Stuart Chambers, who has been chief executive of Pilkington since 2002, is to become the head of Nippon Sheet Glass's (NSG's) flat-glass division, which accounts for the vast majority of the merged group's ¥800bn revenues.

The appointment is expected to be announced in Tokyo next month. Although he is already on the board of NSG, Chambers' new role will be viewed as an endorsement of the way he has bridged the cultural divide between the two companies. NSG's takeover of St Helen's-based Pilkington, which was substantially larger than its Japanese suitor, came after months of sometimes frosty negotiations. Sir Nigel Rudd, the then chairman of Pilkington, rejected three approaches from NSG before recommending an offer for one of Britain's largest quoted manufacturing businesses.

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600450 Pilkington Chief Floats Back To The Top glassonweb.com
Date: 26 December 2006
Source: Ttelegraph.co.uk

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