Cropper (J) Regulatory News (CRPR)

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

14 June 2023

James Cropper plc

('James Cropper', the 'Company' or the 'Group')

Directorship Change

James Cropper plc (AIMS: CRPR), a global market leader in advanced materials, luxury packaging and paper products, announces that Isabelle Maddock has resigned from the Board and from her role as Chief Financial Officer (CFO) with immediate effect.

Isabelle Maddock said: "It has been a privilege to be CFO of James Cropper over the last 9 years and to have been instrumental in navigating the Company through many challenging years whilst shaping where we focus and grow. James Cropper has a hugely bright future and is well positioned to create long term value for its shareholders."

Steve Adams, CEO of James Cropper, paid tribute to the contribution that Isabelle has made to the business over the past 17 years:

"Isabelle joined the Group in 2006, has been CFO since 2014, and has been a valued member of the Board and leadership team throughout her years of service to James Cropper.  Isabelle has played an important role in protecting the business through challenging times, including the Covid pandemic, as well as creating the financial strength and discipline that will enable James Cropper to continue to deliver the ambitious growth strategy. I want to personally thank Isabelle for her hard work and dedication during this period, and I wish her all the very best for the future."

Further to this announcement, James Cropper is pleased to also announce the appointment of Andrew Goody as Chief Financial and Operations Officer (CFOO). Andrew is expected to join the Company and the Board of Directors this coming autumn after completing his period of notice. Andrew's appointment is subject to the usual regulatory approval and a further announcement will be made in due course.

Andrew has over 20 years' experience as a Finance Director across a variety of sectors. He is currently the Finance Director for Bibby Marine and previously worked at Garic, Bibby Group's plant hire business, during which time the business saw revenue growth of 80% and more than doubled EBITDA.

Prior to Bibby, Andrew worked as Finance Director for TJ Hughes. He spent the early years of his career and qualified as a chartered accountant with KPMG. Andrew has a proven track record in developing and delivering successful investment strategies as well as improving working capital. He has extensive financial, commercial, M&A and business transformation experience.

 Steve Adams, Chief Executive Officer, commented:

"I am delighted that Andrew will be joining James Cropper as CFOO, and I look forward to working with him. Andrew's extensive experience in financial, commercial and business transformation will be a great addition to the senior team as James Cropper delivers on its growth strategy."

Andrew Goody commented:

"I'm really pleased to be joining James Cropper and look forward to working with the team to build upon the strong foundations in place as it delivers on its exciting strategy for accelerated revenue and profit growth."

-ENDS-

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Notes for editors:

James Cropper is a market leader in advanced materials and paper products. Led by the Cropper family for six generations, the business has an international workforce and an operational reach in over 50 countries.

Established in 1845, the Group manufactures paper, packaging and advanced materials incorporating pioneering non-wovens and electrochemical coatings.

James Cropper is a specialist provider of niche solutions tailored to a unique customer specification, ranging from substrates and components in hydrogen electrolysis and fuel cells to bespoke colours and textures in paper and moulded fibre packaging designed to replace single use plastics.

The Group operates across multiple markets from luxury retail to renewable energy. It is renowned globally for service, capability, pioneering and multi award-winning commitment to the highest standards of sustainability.

James Cropper's goal is to be operationally carbon neutral by 2030 and to reduce carbon through its entire supply chain to net zero by 2050.