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20 Jun 2025 07:00
20 June 2025
IG Design Group plc
(the 'Group' or 'Design Group')
Board Changes
Following the successful disposal of its DG Americas division, IG Design Group plc, one of the world's leading designers, innovators and manufacturers across various celebration and creative categories, announces that Paul Bal is stepping down from his role as CEO with immediate effect. Current Chair Stewart Gilliland will assume the role of Executive Chair on an interim basis, with the support of the broader executive team, until a permanent replacement has been found.
Stewart Gilliland, Interim Executive Chair, commented: "We would like to thank Paul for his commitment to the Group since 2022 and his hard work to deliver the transformation of the Group, which has dominated much of his tenure. The Board would like to formally acknowledge and thank Paul for his role in the recent successful divestiture of DG Americas at an important point of the Group's seasonal peak working capital period, which has protected the wider Group from further financial and operational impact. We wish Paul all the very best in his next endeavours."
Paul Bal commented: "When I joined the Group just over three years ago, it was clear that there were strong relationships with customers, great products and a committed team - all of which remain today, notwithstanding the challenges faced and the transformation that was needed. I leave the business with my best wishes, pleased that we have protected the wider business with the disposal of DG Americas and knowing that the focus of the team and the Board is firmly on driving the success of DG International."
As previously announced, the Group expects the publication of its audited financial results for the financial year ending 31 March 2025 ("FY25") to be later than under its usual reporting timetable. A further announcement will be made on the FY25 reporting date in due course.
For further information, please contact:
IG Design Group Plc Stewart Gilliland, Interim Executive Chair Rohan Cummings, Chief Financial Officer | Tel: +44 (0)1525 887310
|
Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Elizabeth Halley-Stott |
Tel: +44 (0)20 7523 8000
|
Alma Strategic Communications Rebecca Sanders-Hewett Sam Modlin Will Merison |
Tel: +44 (0)20 3405 0209 designgroup@almastrategic.com |
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
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