LONDON (Alliance News) - Soft tissue manufacturer Accrol Group Holdings PLC said Tuesday Euan Hamilton will replace Stephen Hammett as a non-executive director and Mark Dewhurst will take over as its chief operating officer.
Mark Dewhurst to replace Don Coates as chief operating officer. Dewhurst is the current operations director of DS Smith Packaging in Northern Europe and will take up his new role September 1.
Coates is leaving the company to take up an unspecified chief executive officer role.
Chief Executive Gareth Jenkins said: "It is a statement of how much progress we have made that Accrol is able to attract an operational leader of Mark's capability. We look forward to the knowledge and operational experience he will bring to the business, as we continue to progress the turnaround and establish Accrol as the leader in the industry.
"On behalf of the Board, I would like thank Don for his support over the past nine months and dedication to helping us secure a successful turnaround for the business."
Hammett will step down from his non-executive role to pursue other interests and Hamilton will take over with immediate effect.
Hamilton has 35 years' experience as a finance executive with much of that spent at the Royal Bank of Scotland Group PLC until he retired in 2011, Acrrol said. He worked in the Leveraged Finance division before becoming deputy chief executive officer of the Non-Core division.
Executive Chairman Dan Wright said: "Euan is a finance professional of high standing, with clarity of thought, high standards and independence of mind. He appreciates the rigours of a turnaround situation and the demands of a restructuring from an operational perspective.
"I am sure the board and business will benefit from his straight-forward objectivity and unremitting focus. On behalf of the board, I welcome Euan to the business and look forward to his contribution."
Shares in Accrol were up 9.1% Tuesday at 20.73 pence each.
Accrol Gp (ACRL)