Marks Electric Regulatory News (MRK)

Marks Electrical Group plc

Directorate Change

Marks Electrical Group plc ("Marks Electrical", "the Company" or "the Group"), the online electrical retailer, today announces that Josh Egan, Chief Financial Officer, has informed the Board of his decision to leave the Company to take up a new role as Chief Financial Officer of Roadchef. Marks Electrical is now commencing a process to appoint a successor. Josh, who remains a director of the Company, will continue to fulfil his current role, which will include supporting the business through its Preliminary Results in June and facilitating a smooth transition. A further announcement will be made as appropriate. 

Mark Smithson, CEO of Marks Electrical commented:

"Josh has made a great contribution to the transformation of Marks Electrical, bringing professionalism and rigour to the finance function and through wider support across the business. Our financial controls, reporting and financial discipline are in a far stronger place than when he arrived. Under his guidance, we have improved our financial and operational capabilities, creating a strong platform for our future success. He has been a great colleague, and we thank him for his efforts at Marks Electrical and wish him well in his new role."

Josh Egan, CFO of Marks Electrical commented:

"It's been a pleasure to work with Mark and the team, as we transitioned from a successful family-owned business to a publicly traded company. It's never an easy decision to leave a great business, especially with the progress we have made over the last few years. However, the opportunity has arisen for me to take on an exciting new challenge. I leave Marks Electrical in a good position and have every confidence that the business will continue to flourish, as it executes on its strategy of driving profitable market share gains to become the UK's leading premium electrical retailer."

The Group expects to publish its Preliminary Results for the 12 months ended 31 March 2025 on 25 June 2025.

Enquiries:

Marks Electrical Group plc Via DGA Group:

Mark Smithson (CEO) Tel: +44 (0)20 7664 5095

Josh Egan (CFO)

DGA Group (Financial PR)

Jonathon Brill / James Styles / Nishad Sanzagiri Tel: +44 (0)20 7664 5095

markselectrical@dgagroup.com

Canaccord Genuity (NOMAD and Broker)

Max Hartley / George Grainger Tel: +44 (0)20 7523 8000

About Marks Electrical

Marks Electrical is a technology driven e-commerce electricals retailer which sells, delivers, installs and recycles a wide range of household electrical products. The Group was founded in Leicester in 1987 by Mark Smithson and has scaled into a nationwide online retailer with a compelling growth track record, thanks to its vertically integrated, low-cost, high-quality operating model, supported by the ongoing structural shift of consumers to purchase online. The Group operates within the UK Major Domestic Appliances (MDA) and Consumer Electronics (CE) market, estimated to be worth approximately £7 billion.

Primarily through its simple, clear and intuitive website - markselectrical.co.uk - the Group offers over 4,500 products from over 50 leading brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships. Marks Electrical delivers direct to customers in its owned and branded vehicles, operated by the Group's skilled team of delivery drivers, who are also able to offer installation and recycling services.

For further information, visit the Marks Electrical corporate website: https://group.markselectrical.co.uk and its retail website: https://markselectrical.co.uk/.