Hss Hire Regulatory News (HSS)

25 September 2015

HSS Hire Group plc

Directorate Change

HSS Hire Group plc ("HSS" or the "Company") announces that Chris Davies, CEO, after nine years at HSS and aged 61, is stepping down. John Gill, the current COO, aged 48, will assume the CEO role immediately. Chris has agreed to remain with the Company until the end of the year to assist in a smooth handover.

John joined the Company as CFO in 2009, and was appointed COO in 2014. Before joining HSS he was Finance Director at Screwfix Direct Ltd, a subsidiary of Kingfisher plc, and prior to that he held a number of roles at Kingfisher and GE Capital. 

Under John's leadership the Company's strategy will continue to focus on the successful roll out of the new style local branches and the development of the Company's pioneering logistics and distribution network, including the opening of the National Distribution Centre in the first half of 2016 as announced at the interim results in August.

Meanwhile, current trading remains in line with market expectations and market conditions are consistent with those outlined at that time.

Alan Peterson, Chairman of HSS, said: "John's record and strong leadership skills as both CFO and COO have ensured that he has been a central part of the Board's thinking on succession planning for some time. John has been closely involved in developing and implementing the Group's distribution and logistics strategy and is ideally placed to lead the rebasing of our cost structure and make improvements to operating margin. I'm confident that he will make the step-up to the Chief Executive role quickly and effectively.

"Chris has made an outstanding contribution to the development of the business since 2006 when he led the Company through a change in strategy and steered it successfully through the financial crisis. He is an excellent leader of people with very strong sales and marketing skills and on behalf of the whole Company I would like to thank him for his professionalism, hard work and leadership and for the clear strategic direction that he has set for the Group."

No matters are required to be disclosed under Listing Rule 9.6.13 in respect of John Gill.

A section 430(2B) Companies Act 2006 Statement will be made available today on HSS's corporate website (www.hsshiregroup.com).

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