CNCT.L Regulatory News (CNCT)

30 July 2018

This announcement contains inside information

Connect Group PLC

('Connect Group', 'the Company' or 'the Group')

Appointment of new Chief Executive Officer

Connect Group, a leading specialist distributor, is pleased to announce the following changes to the Board:

New Chief Executive Officer

Jozef (Jos) Opdeweegh has been appointed Chief Executive Officer, starting with the Company and joining the Board on 1 September 2018.

Jos started his career in the financial services industry and worked in a number of senior finance positions. Following a short period as the Chief Financial Officer and Managing Director for Europe, in 2000 Jos became the Chief Executive Officer of syncreon, a global provider of logistics services to the automotive and technology industry. In 2008, he was appointed the Chief Executive Officer of Americold Realty Trust, the world's largest logistics provider for frozen and temperature controlled food products. From 2012 to 2015, Jos led the carve-out and subsequent sale of Caterpillar Logistics Services (now known as Neovia Logistics) during which period he was also a non-executive director of Interline Brands. In April 2016, Jos was Chief Executive Officer and Board Director of Premier Farnell PLC, a FTSE listed specialized high service distributor of technology products, until its sale to Avnet Inc. in October of the same year.

Looking forward to his new role, Jos Opdeweegh said:

"This is an exciting time to be joining the Group. With two strong brands and a leading position in each of our markets there is every opportunity to drive an improvement in performance and establish a strategy that delivers value for all stakeholders."

Mark Cashmore, current Chief Executive Officer 

As announced on 13 June 2018, current Chief Executive Officer, Mark Cashmore, will be stepping down from his role and the Board to pursue new opportunities. Mark will stand down from the Board on 31 August 2018 but will remain with the Company for a short period of time to ensure a smooth and orderly handover to Jos. 

Mark has been Chief Executive of the Group since its inception in 2006 as an independent news wholesaler demerging from WH Smith PLC. Under his leadership, the Group is now a broader based specialist distributor with a leading position in all its markets.

Gary Kennedy, Chairman of Connect Group, commented:

"I am looking forward to working with Jos to deliver our plans for strategic turnaround, profit performance and capital management.

Jos brings a wealth of experience in delivering value driven strategic change. A results driven executive, his energy and relentless focus on delivery will be central to our turnaround and in sustaining performance improvement.

I am grateful to Mark Cashmore for his invaluable contribution during his tenure."

The Company confirms that there is no further information about Jos Opdeweegh requiring disclosure under paragraph 9.6.13 (2) to (6) of the Listing Rules of the UK Listing Authority

Enquiries: