Simon Bates Appointed to DMC Global's Board of Directors

Rhea-AI Summary

DMC Global has announced the appointment of Simon Bates as an independent director to its board, effective from June 25, 2024. Mr. Bates brings nearly 30 years of leadership experience within the building products industry, having previously served as CEO of Argos North America and GCP Applied Technologies. His extensive background also includes roles at CRH plc and current directorship at U.S. Silica Holdings. This move fulfills a cooperation agreement with Bradley L. Radoff and affiliates, requiring the appointment of an independent director with sector expertise. Mr. Bates will contribute to DMC’s Corporate Governance and Nominating Committee, as well as its Compensation Committee, expanding the board to eight members. Chairman David Aldous highlighted Mr. Bates' expertise as key to driving strategic initiatives for shareholder value.

Positive

• Simon Bates' appointment adds nearly 30 years of leadership experience in the building products industry to the DMC Global board.
• Mr. Bates' previous roles as CEO at Argos North America and GCP Applied Technologies showcase his capability in leading large-scale operations in the construction sector.
• His involvement in major acquisitions, such as Argos' sale to Summit Materials and GCP's acquisition by Saint-Gobain, highlights his strategic impact.
• Being part of U.S. Silica Holdings' board adds to his credentials and industry network.
• The appointment aligns with a cooperation agreement with Bradley L. Radoff, potentially stabilizing shareholder relations and fulfilling strategic governance obligations.

Negative

• Mr. Bates' tenure at both Argos North America and GCP Applied Technologies was relatively short, which might raise concerns about long-term commitment and continuity.

BROOMFIELD, Colo., June 25, 2024 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced that its board of directors has elected Simon Bates as an independent director.

Mr. Bates joins the DMC board with nearly 30 years of leadership experience in the building products industry. He previously was CEO of Argos North America, one of the largest U.S. cement and ready-mix concrete producers, from October 2022 to January 2024, when Argos was sold to Summit Materials. He also served as president, CEO and director of GCP Applied Technologies Inc., from October 2020 to October 2022, when the company was acquired by Saint-Gobain. GCP was a leading global provider of construction products, including high-performance specialty construction chemicals and building materials. From April 2017 to October 2020, Mr. Bates served as president of Infrastructure Products Group, a division of CRH plc, a publicly traded manufacturer of building products and materials.

Mr. Bates currently serves as a director on the board of U.S. Silica Holdings, Inc. (NYSE: SLCA), a global performance materials company and a leading producer of commercial silica used in the oil and gas industry and in a wide range of industrial applications.

“We’re thrilled to welcome Simon to DMC’s board,” said David Aldous, chairman. “His experience and expertise in the building products industry will be invaluable as we pursue strategic initiatives designed to maximize value for DMC’s stockholders."

The appointment of Mr. Bates satisfies an obligation pursuant to a cooperation agreement, entered into on March 14, 2024, between DMC’s board and Bradley L. Radoff and his affiliate, to appoint a mutually agreed upon independent director with expertise and experience in the building products sector.

Mr. Bates will serve as a member of the board’s Corporate Governance and Nominating Committee, as well as its Compensation Committee. His appointment increases the number of directors on DMC’s board to eight.

Mr. Bates earned a bachelor’s degree in economics from the University of York in England. He also earned post-graduate degrees in accounting and finance from the University of Manchester, and a post-graduate degree in marketing from the University of Salford.

About DMC Global
DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist of: Arcadia, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. DMC’s businesses are led by experienced, strategically focused management teams, which are supported with business resources and capital allocation expertise to advance their operating strategies and generate the greatest returns. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit: http://dmcglobal.com.

CONTACT:
Geoff High
Vice President of Investor Relations
303-604-3924        

FAQ

Who has been appointed to DMC Global's board of directors?

Simon Bates has been appointed as an independent director to DMC Global's board of directors.

What experience does Simon Bates bring to DMC Global's board?

Simon Bates brings nearly 30 years of leadership experience in the building products industry, having served as CEO of Argos North America and GCP Applied Technologies, among other roles.

When was Simon Bates appointed to DMC Global's board of directors?

Simon Bates was appointed to DMC Global's board of directors on June 25, 2024.

Why was Simon Bates appointed to DMC Global's board of directors?

Simon Bates was appointed to fulfill a cooperation agreement requiring the addition of an independent director with expertise in the building products sector.

What committees will Simon Bates serve on at DMC Global?

Simon Bates will serve on DMC Global's Corporate Governance and Nominating Committee, as well as its Compensation Committee.