Design Group Regulatory News (IGR)

3 November 2022

IG Design Group Plc('Design Group' or the 'Group')

Appointment of Chief Executive Officer

IG Design Group plc, one of the world's leading designers, innovators and manufacturers of Gift Packaging, Celebrations, Craft & Creative Play, Stationery, Gifting and related product categories, is pleased to announce the appointment of Paul Bal as Chief Executive Officer, effective from 1 April 2023. Paul was appointed as the Group's Chief Financial Officer in March 2022 and joined the Board in May. Stewart Gilliland, currently Interim Executive Chair will return to the position of Non-Executive Chair on 1 April 2023. The search for a new Chief Financial Officer is commencing and further updates will be issued as and when appropriate.

Paul joined the Group from Stock Spirits, an international alcoholic beverage business, where he was CFO from 2017. Paul was instrumental in the turnaround of the then LSE-listed group, leveraging his experience in the management of decentralised businesses and a complex portfolio of over 70 brands selling across 50 markets.

Qualifying as a Chartered Accountant in England & Wales in 1993 and a Fellow since 2005, Paul has had an international career. He held several global financial and management roles within British American Tobacco and Rothmans International. From 2014, Paul was Vice-President: CFO & Strategy - Europe, Africa & Middle East at Tupperware Brands, listed on the New York Stock Exchange.

Lance Burn has agreed to remain in role as Interim Chief Operating Officer through to 31 October 2023 to continue to lead the transformation of the USA business and assist Group transition.

Stewart Gilliland, Non-Executive Chair, commented:

"Following a thorough internal and external search process, we are delighted to appoint Paul as CEO. Having worked with Paul closely over the past six months I have seen him show impressive leadership and strategic vision for taking our business forward. I am confident that Paul will bring great value to the Group in his new role and look forward to working with him further alongside the rest of the Board."

Paul Bal, CFO & CEO Designate, commented:

"I'm delighted to have been appointed as CEO. Since I joined the Group earlier this year, it is clear that we have a fantastic team, strong relationships with our customers and ongoing demand for our great products, despite the challenges which we have faced. Looking ahead, we are focused on maintaining our long-standing customer relationships and market leading position, restoring profitable and sustainable growth, and creating a more resilient business which will provide a stronger base on which we can build for the future."

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