14 Jul 2016 08:31
Connect Group PLC
('Connect Group', 'the Company' or 'the Group')
Appointment of Chief Financial Officer
Connect Group, a leading specialist distributor operating in four divisions; News & Media, Books, Education & Care and Parcel Freight is pleased to announce that David Bauernfeind has been appointed Chief Financial Officer, starting with the Company on 15 August 2016.
As announced in January 2016, current Chief Financial Officer, Nick Gresham, will be stepping down from his role and the Board to pursue new opportunities. Nick will stand down from the Board and David will join the Board on 1 October 2016. Nick will remain with the Company until later in the calendar year to ensure a thorough and smooth handover to David.
David was previously Chief Financial Officer and Executive Director at Xchanging PLC, a position he held from 2011 until its takeover and delisting in June 2016. David was also a director of Xchanging Solutions Limited (formerly Cambridge Solutions Limited), a subsidiary of Xchanging PLC with a dual listing on the National Stock Exchange of India and the Bombay Stock Exchange. Before joining Xchanging in 2001, David held management roles in BAE Systems PLC and Johnson Matthey PLC. David is a chartered accountant.
Mark Cashmore, Group Chief Executive, commented:
"I am delighted to welcome David to the Group. He brings substantial experience and a track record of delivering strategic and operational change in fast moving environments. His capabilities in corporate development and commercial negotiation will be an asset to the Group as we pursue our strategy to grow and diversify in specialist distribution markets."
There are no further disclosures required pursuant to paragraphs 9.6.11 to 9.6.13 of the Listing Rules.
Enquiries:
Connect Group PLC
Mark Cashmore, Group Chief Executive
Tel: 01793 563641
Buchanan
Sophie McNulty
Richard Oldworth
Tel: 020 7466 5000