Nigel Rudd is chosen to `keep eye on' Pilkington

Pilkington confirmed yesterday that Nigel Rudd is to take over from Sir Antony Pilkington as chairman of the glass maker in July. He will be the St Helens-based company's first chairman from outside the founding family.

Sir Antony, who plans to step down in July when he will be 60, said: "I am delighted that Nigel Rudd, with his wide experience in international industry, will succeed me. He will be the first non-executive chairman and the first from outside the company."

The appointment follows the recruitment three years ago of Roger Leverton, chief executive, from RTZ. He was brought into Pilkington to sort out a number of unsuccessful diversifications and to refocus the company on the core glass-making areas where it has technical leadership.

Mr Rudd said he planned to spend two or three days a month at Pilkington. He will not be paid for his work but Williams Holdings, the industrial conglomerate where he is executive chairman, will be paid an undisclosed figure as compensation for the loss of Mr Rudd's time.

The stock market reacted warmly, adding 5p to Pilkington shares, which closed at 158p.

Mr Rudd, who is also chairman of East Midlands Electricity and Pendragon, the motor dealer spun off from Williams, said the transformation of Williams from an acquisitive, fast-growing group to a more stable, diversified conglomerate meant he had time available to work elsewhere.

Mr Rudd said he saw his task as keeping an eye on Pilkington to ensure the company stuck to what it was good at and was not tempted again by diversifications into areas it did not understand. There are similarities with East Midlands, where a rash of ill-advised diversifi-cations led to a £130m write-off last May, the loss of 700 jobs after radical pruning of the company's contracting, security and retailing arms, and the departure of John Harris, its previous chairman.

Having stopped the rot in East Midlands' subsidiaries - the closure of the retailing arm is expected to be the next stage in the rationalisation - Mr Rudd then guided the company last October to an imaginative and equitable version of the share buybacks then being put together by nearly all the regional electricity companies as a way of using up their excess cash flow.

The East Midlands version, a special dividend to all shareholders rather than the acquisition of shares from a handful of favoured institutions, was seen as fair to investors and employees, the value of whose share options were safeguarded.

Pilkington, whose shares outperformed following the corrective action of Mr Leverton, have fallen back over the past 12 months as the market waited for earnings growth to catch up with a demanding rating. Despite doing the right things, the company still operates in difficult markets.

PROMOTED VIDEO
News
The data shows that the number of “unlawfully” large infant classes has doubled in the last 12 months alone
i100Mike Stuchbery, a teacher in Great Yarmouth, said he received abuse
Arts and Entertainment
The starship in Star Wars: The Force Awakens
filmsThe first glimpse of JJ Abrams' new film has been released online
Sport
Rio Ferdinand returns for QPR
sportRio Ferdinand returns from his three-game suspension today
News
people

Watch the spoof Thanksgiving segment filmed for Live!
News
ebooksNow available in paperback
Sport
Billy Twelvetrees will start for England against Australia tomorrow with Owen Farrell dropping to the bench
rugbyEngland need a victory against Australia today
Arts and Entertainment
The cover of The Guest Cat – expect to see it everywhere
books
Sport
Tyson Fury poses outside the Imperial War Museum in south London ahead of his fight against Dereck Chisora
All British heavyweight clash gets underway on Saturday night
News
i100 Charity collates series of videos that show acts of kindness to animals
Arts and Entertainment
One of the installations in the Reiner Ruthenbeck exhibition at the Serpentine Gallery
artCritics defend Reiner Ruthenbeck's 'Overturned Furniture'
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Austen Lloyd: Company Secretary

Excellent Package: Austen Lloyd: EAST ANGLIA - SENIOR SOLICITOR LEVEL ROLE** -...

Citifocus Ltd: German Speaking Client Specialist

£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...

Citifocus Ltd: Performance & Risk Oversight

£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...

h2 Recruit Ltd: Sales Director - SaaS (SME/Channel) - £140,000 OTE

£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...

Day In a Page

Homeless Veterans Christmas Appeal: ‘We give them hope. They come to us when no one else can help’

Christmas Appeal

Meet the charity giving homeless veterans hope – and who they turn to when no one else can help
Should doctors and patients learn to plan humane, happier endings rather than trying to prolong life?

Is it always right to try to prolong life?

Most of us would prefer to die in our own beds, with our families beside us. But, as a GP, Margaret McCartney sees too many end their days in a medicalised battle
Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night - is that what it takes for women to get to the top?

What does it take for women to get to the top?

Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night and told women they had to do more if they wanted to get on
Christmas jumper craze: Inside the UK factory behind this year's multicultural must-have

Knitting pretty: British Christmas Jumpers

Simmy Richman visits Jack Masters, the company behind this year's multicultural must-have
French chefs have launched a campaign to end violence in kitchens - should British restaurants follow suit?

French chefs campaign against bullying

A group of top chefs signed a manifesto against violence in kitchens following the sacking of a chef at a Paris restaurant for scalding his kitchen assistant with a white-hot spoon
Radio 4 to broadcast 10-hour War and Peace on New Year's Day as Controller warns of cuts

Just what you need on a New Year hangover...

Radio 4 to broadcast 10-hour adaptation of War and Peace on first day of 2015
Cuba set to stage its first US musical in 50 years

Cuba to stage first US musical in 50 years

Claire Allfree finds out if the new production of Rent will hit the right note in Havana
Christmas 2014: 10 best educational toys

Learn and play: 10 best educational toys

Of course you want them to have fun, but even better if they can learn at the same time
Paul Scholes column: I like Brendan Rodgers as a manager but Liverpool seem to be going backwards not forwards this season

Paul Scholes column

I like Brendan Rodgers as a manager but Liverpool seem to be going backwards not forwards this season
Lewis Moody column: Stuart Lancaster has made all the right calls – now England must deliver

Lewis Moody: Lancaster has made all the right calls – now England must deliver

So what must the red-rose do differently? They have to take the points on offer 
Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

It's in all our interests to look after servicemen and women who fall on hard times, say party leaders
Millionaire Sol Campbell wades into wealthy backlash against Labour's mansion tax

Sol Campbell cries foul at Labour's mansion tax

The former England defender joins Myleene Klass, Griff Rhys Jones and Melvyn Bragg in criticising proposals
Nicolas Sarkozy returns: The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?

Sarkozy returns

The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?
Is the criticism of Ed Miliband a coded form of anti-Semitism?

Is the criticism of Miliband anti-Semitic?

Attacks on the Labour leader have coalesced around a sense that he is different, weird, a man apart. But is the criticism more sinister?
Ouija boards are the must-have gift this Christmas, fuelled by a schlock horror film

Ouija boards are the must-have festive gift

Simon Usborne explores the appeal - and mysteries - of a century-old parlour game