7 Oct 2013 07:00
7 October 2013
Albemarle & Bond Holdings PLC (the "Company")
Directorate Change
Appointment of Chief Executive Officer and Chief Restructuring Officer
Albemarle & Bond Holdings PLC, the specialist retail financial services provider, is pleased to provide an update to the announcement made on 30 September 2013 with respect to the appointment of Chris Gillespie as the new Chief Executive Officer.
Chris Gillespie will now join the Board as the Company's new Chief Executive Officer on 7 October 2013 instead of the previously planned date of 18 October 2013 and Greville Nicholls will simultaneously revert to his former role of Non-Executive Chairman.
The Company is also pleased to announce the appointment of Colin Whipp as Chief Restructuring Officer and Executive Board Director from 7 October 2013.
Colin is an experienced turnaround executive who has worked in public and private companies in the UK and Ireland. A Chartered Accountant and a Fellow of the Institute for Turnaround, Colin has extensive wide experience in consumer facing companies in delivering improved financial change and results. Prior to this in his early career, he qualified with BDO Stoy Hayward, and then worked for Procter & Gamble UK. This was then followed by financial and commercial roles with Scholl Plc, BacardiMartini Inc. and Bertelsmann UK.
Greville Nicholls commented:
"In the current environment, Chris' experience and leadership will be very valuable to the business. The acceleration of his appointment to the CEO role from the previously planned date is in recognition of his energy and enthusiasm to take up the role and the Board's confidence in the difference he can make to the Company. We also welcome Colin on his appointment and I am sure that he will be of great assistance to Chris in his new role."
Save as set out in this announcement and the appendix below, there are no further disclosures required under Rule 17 Schedule 2 (g) of the AIM Rules.
Appendix:
Chris Gillespie is currently a director of the following companies:
· The Event Horse Owners Association Limited
In the past five years, Chris Gillespie has been a director of the following companies:
· British Eventing Limited
· British Horse Trials Association Limited
· Greenwood Personal Credit Limited
· Provident Financial Management Services Limited
· Provident Personal Credit Limited
· Provident Financial Plc
Colin Whipp is currently a director of the following companies:
· Amersham Business Management Limited
· William Clark & Sons Holding Limited
In the past five years, Colin Whipp has been a director of the following companies:
· Healthcare Locums plc
· Amersham Health Management Limited
· Clare Perkins Designs Limited
· Leaseway Vehicle Rental Limited
Colin Whipp was a director of Amersham Health Management Limited and Clare Perkins Designs Limited when they were struck off the Companies House register by way of the Voluntary Strike-Off procedure on 10 November 2010 and 18 September 2013, respectively. He was also a director of the Scottish company Leaseway Vehicle Rental Limited which was dissolved on 21 August 2013.
Enquiries:
Albemarle & Bond Holdings PLC Chris Gillespie - Chief Executive Officer 0118 955 8100
Liam Moran - Chief Financial Officer
Canaccord Genuity 020 7523 8350Piers Coombs / Bruce Garrow / Lucy Tilley
MHP Communications 020 3128 8100
Reg Hoare / Katie Hunt / Simon Hockridge