Appointments: Lupus catches a Pike

Shares in Lupus Capital soared 28 per cent to 40p in one day on news of the appointment of Jamie Pike as its non-executive chairman. He looks to be a real catch for Lupus, the security and residential products and marine breakaway couplings group that has faced a number of distractions in recent months.

Oxford-educated Pike was previously chief executive officer of Foseco, the international business serving the foundry and steel-making industries, which he helped float on the Full List in 2005, until its purchase by Cookson in April 2008. Since July 2008, he has been chairman of fully listed RPC Group, to boot.

Serial entrepreneur Michael Jackson, who took the Lupus chair in the summer to assist in repelling a move by former boss and 10 per cent shareholder Greg Hutchings to regain a seat on the board, is standing down, but reverts to being a non-executive director.

Commenting on Pike’s appointment, Jackson has heralded his ‘outstanding’ track record and ‘extensive public company experience across a range of UK and international businesses’, as well as his ‘reputation for incisive strategic and operational capability’.

Now 41.5p, Lupus shares value the business on AIM at £57 million.