IN BRIEF: Franchise Brands promotes Andrew Mallows to permanent CFO

Franchise Brands PLC - Manchester-based owner of ChipsAway, Willow Pumps and Metro Rod brands - Appoints Interim Chief Financial Officer Andrew Mallows as CFO on a permanent basis. The company has combined the roles of CFO and commercial director, and created a new group finance director position. It says it considered a range of external candidates over the last six months for the role of CFO. Water & Waste Services Division Finance Director Beth Peace has been appointed as group finance director.

Executive Chair Stephen Hemsley says: "I am delighted that Andrew has accepted the role of CFO on a permanent basis and with Beth's appointment as group finance director. Andrew and Beth are a proven team who have worked with Peter for many years and supported each other through periods of rapid growth and the more challenging Covid years. I am, therefore, confident that they will provide the group with excellent financial leadership and that, in combination with Peter and Mark, we have a strong team to execute our near-term strategy of integrating the group into one business to enhance sales, increase operational efficiency and reduce debt."

Current stock price: 149.40 pence, up 0.6%

12-month change: down 8.6%

By Michael Hennessey, Alliance News reporter

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