Brickability Group Regulatory News (BRCK)

26 May 2023

Brickability Group plc  

("Brickability", the "Group" or the "Company") 

Chief Executive Officer Succession

Brickability Group plc (AIM: BRCK), the leading construction materials distributor, announces that Alan Simpson, Chief Executive Officer and founder of many of the Group's businesses, has notified the Board of his future intention to retire from the role of CEO and to step down as a director of the Company. Alan will remain with the Group in a senior capacity and as a significant Brickability shareholder.

Alan will be succeeded as Chief Executive Officer by Frank Hanna, currently Joint Chief Executive Officer of Michelmersh Brick Holdings plc, who will join the Board of Brickability as Chief Executive Designate in due course.

Alan has overseen the significant growth of Brickability, having been a director of Brickability since 1996 and as CEO following the 2016 management buyout of the Group. Alan has been instrumental in the Group's growth, overseeing its IPO in 2019 and multiple acquisitions since. Alan will remain in the role of CEO until Frank Hanna's appointment with the Company becomes effective and, to ensure a smooth transition of responsibilities, will continue as CEO until an orderly handover period of not less than 3 months has been completed, upon which Alan will step down from the role of CEO and his Board position but remain with the Group.

Frank Hanna is a prominent figure in the UK brick industry with over 33 years of experience. Frank spent 19 years with Freshfield Lane Brickworks, where he was a shareholder and director, helping to transform that business into Europe's largest clamp process brick plant prior to its sale to Michelmersh Brick Holdings plc in 2010.

Frank joined the Board of Michelmersh on the completion of Freshfield Lane's sale and later became Joint-CEO of the Michelmersh Brick Holdings plc in 2016. Under his management, Michelmersh has expanded through strategic acquisitions to increase production output from 70 million to 122 million clay bricks and pavers per annum, broadened its product range and built its reputation as the industry's specialist manufacturer of premium brick products.

Frank has also previously chaired both the Brick Federation and the Promotional Working Party at the Brick Development Association, where he is currently a main board member.

A further announcement, in connection with Frank Hanna's intended appointment to the Board, will be made in due course.

John Richards, Chairman of Brickability Group plc, said:

"Alan has been instrumental in building Brickability into the business it is today. Alan has overseen monumental growth, navigating the business through many cycles and challenges, and has imprinted an entrepreneurial and collegiate spirit on the Group which has been a key to its success. Alan remains a major shareholder of the Group, is committed to ensure a smooth transition and will continue to work with the Group post his stepping down. On behalf of the Board, I thank Alan and congratulate him for his immense achievements.

"I am delighted to welcome Frank to the Brickability family. Having known Frank for a long time, he brings a wealth of experience and is the perfect person to lead the Group as it continues to grow."

Alan Simpson, Chief Executive Officer, said:

"Leading the Brickability business has been a great honour and I have continued to enjoy the challenges and rewarding experiences throughout. The business is exceptionally well placed within the market, and I look forward to continuing with the Group in a non-board role post-handover. Frank is an exceptional operator, manager and leader, and I look forward to working with him in future years to continue to grow the Brickability business."

This announcement contains inside information.

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About Brickability

Brickability is a leading construction materials distributor, serving customers across the UK and Europe for over 37 years through its national and local networks. The Group supplies over 550m bricks annually and has over 55 locations across the country with over 700 employees.