Coats names industrials boss Rajiv Sharma as CEO

Rajiv Sharma will replace Paul Foreman, who steps down on December 31

Coats Group, the UK-based thread-maker, named Rajiv Sharma as chief executive, replacing Paul Foreman who steps down on December 31 after seven years in the job.

Mr Sharma is currently chief executive for Coats' industrial division, which made up about 80% of the company's sales in 2015. He joined Coats in 2010.

Mr Foreman is to take up the job as chief executive of Essentra, a FTSE 250 company, Coats said.

Coats is the last remnant of Sir Rob Brierley's second empire, originally known as Guinness Peat Group.