Last checked at 25 May 2023 07:00
25 May 2023
Hill & Smith PLC
Directorate Change
Hill & Smith PLC ("the Group"), the international group creating sustainable infrastructure and safe transport through innovation, today announces that Alan Giddins has formally assumed the role of Executive Chair for an expected period of 12 to 18 months, the role that he has been undertaking since July 2022 on an interim basis while the Group searched for a new Chief Executive Officer. This will provide the Group with continuity and stability, as it executes on its strategy at pace, in a period with significant opportunity.
The Board will consider both internal and external candidates for the role of Chief Executive Officer. Since July 2022, the Board has undertaken an extensive search process that has identified many strong candidates who have been excited by the Group's prospects. However, the Board was not able to find a candidate that met its criteria at the current time.
Tony Quinlan, Senior Independent Non-Executive Director, will take on the role of Chair of the Nominations Committee from Alan Giddins, who remains on the Committee. Upon recruiting a Chief Executive Officer, Alan will revert to his position of Non-Executive Chair. Alan Giddins' salary will remain unchanged, and he will not participate in any employee bonus or share incentive schemes.
Tony Quinlan, Senior Independent Non-Executive Director, said:
"The Board is delighted that Alan has agreed to take the role as Executive Chair for a period of 12 to 18 months, which we unanimously believe is in the best interests of the company to provide continuity and stability. Since Alan's appointment as interim Executive Chair in July 2022, the Group has delivered record profits through successfully executing on its organic growth strategy, while also making significant progress on portfolio management including a major disposal and a series of high quality acquisitions.
"The Board remains committed to finding a permanent Chief Executive Officer and will restart a process in due course to assess both internal and external candidates".
ENDS
For further information, please contact:
Hill & Smith PLC
Tony Quinlan, Senior Independent Non-Executive Tel: +44 (0)121 704 7434
Chris Dyett, Investor Relations
MHP
Reg Hoare/Rachel Farrington/Catherine Chapman Tel: +44 (0)20 3128 8613
Notes to Editors
Hill & Smith PLC creates sustainable infrastructure and safe transport through innovation. The Group employs c.4,000 people worldwide with the majority employed by its autonomous, agile, customer focussed operating businesses based in the UK, USA, Australia and India. The Group office is in the UK and Hill & Smith PLC is quoted on the London Stock Exchange (LSE: HILS.L).
The Group's operating businesses are organised into three main business divisions:
Galvanizing Services: increasing the sustainability and maintenance free life of steel products including structural steel work, lighting, bridges and other products for industrial and infrastructure markets.
Engineered Solutions: supplying engineered steel, and composite solutions with low embodied energy for a wide range of infrastructure markets including power generation and distribution, marine, rail and housing. The division also supplies engineered pipe supports for the water, power and liquid natural gas markets and seismic protection solutions.
Roads & Security: supplying products and services to support road and highway infrastructure including temporary and permanent road safety barriers, intelligent traffic solutions, street lighting columns and bridge parapets. In addition, the division includes two businesses which are market leaders in the provision of off-grid solar lighting and power solutions. The security portfolio includes hostile vehicle mitigation solutions, high security fencing and automated gate solutions.