Louisa Burdett, the chief financial officer of FTSE-100 listed engineering firm Spirax Group, has officially stepped down from her position on the board of RS Group Plc. The announcement was made by Spirax on Monday, February 2, confirming that Ms Burdett's departure from the FTSE-250 distributor took effect on January 31.
Background and Career History
Ms Burdett brought extensive financial expertise to the RS Group board, having joined in 2017. Her professional background encompasses significant experience in financial management, commercial strategy, mergers and acquisitions, and risk assessment. During her tenure at RS Group, she served in the dual roles of non-executive director and chair of the audit committee, providing crucial oversight and governance.
Prior to her current role at Spirax Group, which she assumed in 2024, Ms Burdett held several high-profile financial leadership positions. Her career includes serving as chief financial officer at Croda International, a specialty chemicals company, and at aerospace engineering firm Meggitt. She also acted as group finance director at polymer manufacturer Victrex, and held CFO positions at both Optos, a medical device company, and the Financial Times Group.
Spirax Group's Business Structure
Spirax Group, headquartered in Cheltenham, operates through three distinct business divisions: steam thermal solutions, electric thermal systems, and fluid technology applications. The global engineering enterprise employs approximately 10,000 staff members across 68 different countries and maintains 30 manufacturing facilities worldwide.
Recent Financial Performance and Challenges
The company has faced several economic headwinds in recent months. In November, Spirax issued warnings about the potential impact of tariffs implemented by President Donald Trump's administration, noting that the resulting uncertainty was negatively affecting business confidence and reducing demand for larger-scale projects.
Financial results reported last August revealed a decline in profitability amid what the company described as a "challenging macroeconomic environment." Statutory revenue decreased by one percent to £822.2 million for the six-month period ending June 30, while profit before tax fell significantly from £124.8 million to £87.9 million compared to the previous year.
Organizational Restructuring
In response to these challenges, Spirax implemented a comprehensive restructuring program last year. The company stated that this initiative would generate annual savings of approximately £35 million, which would be strategically reinvested to fund future organic growth opportunities and strengthen the business's competitive position in the global market.
