Last checked at 28 Aug 2018 07:00
For release: 28 August 2018 at 07:00 am
Accrol Group Holdings plc("Accrol" or the "Company")BOARD AND SENIOR MANAGEMENT CHANGES
Board Changes
Accrol Group Holdings plc (AIM:ACRL), the AIM-listed leading independent tissue converter, is pleased to announce that Euan Hamilton has been appointed Independent Non-Executive Director with immediate effect. Euan replaces Stephen Hammett, who has today stepped down from the Board as Non-Executive Director. The Board thanks Steve and wishes him well as he leaves the Company to pursue other interests.
Euan is an international finance executive with over 35 years' experience. Much of his career was spent at the Royal Bank of Scotland Group, until his retirement in 2011, during which time he held numerous roles, chiefly within the Leveraged Finance Division and latterly as Deputy CEO of the Non-Core Division.
In 2013, Euan joined Bank of Cyprus Group as Director in the group's Restructuring and Recoveries Division, a role he held until 2015. He is currently a consultant for Bank of Cyprus and a non-executive director of the UK plc subsidiary.
The Board now comprises:
· Dan Wright, Executive Chairman;
· Gareth Jenkins, Chief Executive Officer;
· Steve Townsley, Chief Financial Officer;
· Joanne Lake, Independent Non-Executive Director; and
· Euan Hamilton, Independent Non-Executive Director.
Dan Wright, Executive Chairman of Accrol, 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."
Senior Management Changes
Accrol also announces that Mark Dewhurst, currently Operations Director of DS Smith Packaging in Northern Europe, has agreed join the Group as Chief Operating Officer from the 1st September 2018.
Mark's career at DS Smith spans nine years, during which he has gained significant experience in transformational change and Operational Excellence and has track record for delivering sustainable performance improvement, through strategic planning, leadership and communication skills.
Mark will take over the role of COO from Don Coates, who joined Accrol in October 2017 to assist in the early stages of the Group's turnaround. Don will leave Accrol to take up a CEO role, following an orderly handover.
Gareth Jenkins, Chief Executive Officer, 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."
Information on Euan Hamilton required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies:
Euan Hamilton, aged 57, is currently a director of the following companies:
· Bank of Cyprus UK Limited
· Cramond Capital Partners Limited
· Packall Limited
· Nicosia Mall Property (NMP) Limited
· Nicosia Mall Management (NMM) Limited
· Nicosia Mall Finance (NMF) Limited
· Nicosia Mall Holdings (NMH) Limited
In addition, Euan has held the following directorships in the past five years:
· Iperi Properties Limited
Euan has no interests in the share capital of Accrol Group Holdings plc.
There is no further information on Euan required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
For further information, please contact: |
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Accrol Group Holdings plc |
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Dan Wright, Executive Chairman | Tel: +44 (0) 1254 278 844 |
Gareth Jenkins, Chief Executive Officer |
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Steve Townsley, Chief Financial Officer |
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Zeus Capital Limited (Nominated Adviser & Broker) |
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Dan Bate / Andrew Jones | Tel: +44 (0) 161 831 1512 |
Dominic King / John Goold | Tel: +44 (0) 203 829 5000 |
Belvedere Communications Limited |
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Cat Valentine (cvalentine@belvederepr.com) | Tel: +44 (0) 7715 769 078 |
Llew Angus (langus@belvederepr.com) | Tel: +44 (0) 7407 023 147 |
Notes to Editors
Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet rolls, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK.
Accrol operates from three sites:
· A manufacturing, storage and distribution facility in Blackburn;
· A facial tissue plant, also in Blackburn; and
· A manufacturing, storage and distribution facility in Leyland.