Nwf Regulatory News (NWF)

For release 18 July 2024

NWF Group plc

NWF Group plc: Board Changes

NWF Group plc ('NWF' or the 'Group'), the specialist distributor, announces the following changes to its Board.

Appointment of Chair elect

Amanda Burton has been appointed to the Board as an Independent Non-Executive Director effective 18 July 2024, and as Chair with effect from the conclusion of the Group's annual general meeting to be held on 26 September 2024 ("AGM"). Amanda will succeed Philip Acton, who as previously announced, will retire from the Board at the conclusion of the AGM. Amanda will also assume the responsibility of Chair of the Nomination Committee.

Amanda brings considerable experience to the Board gained from senior positions across the public, private and charity sectors spanning multiple industries. Amanda holds non-executive directorships at HSS Hire Group PLC, Elevate Services Inc, Post Office Limited and is chair of Green Light Trust. 

Amanda qualified as a lawyer with Slaughter and May before working in a variety of legal and operational roles spanning nearly 30 years, including the position of global Chief Operating Officer of Clifford Chance LLP and Group Legal adviser to Meyer International, overseeing its takeover by Saint Gobain in 2000.

Appointment of non-executive director

The Group is also pleased to announce that Tim Cooper has been appointed to the Board as an Independent Non-Executive Director effective 18 July 2024 and as Chair of its Remuneration Committee with effect from the conclusion of the AGM. Richard Armitage, who had been acting Chair of the Remuneration Committee, will stand down from that role but will continue as the Senior Independent Director and Chair of the Audit Committee.

In his executive career, Tim held a variety of management positions over a period of nearly 20 years, most recently as an executive director and a member of the executive leadership team at Victrex plc. Tim is currently a non-executive director of Pressure Technologies plc and Renold plc.

Commenting on the Board changes, Richard Armitage, Senior Independent Director, said: "Following an extensive recruitment process, I am delighted that Amanda has agreed to join the Board as Chair of NWF. Her significant executive and non-executive experience will be invaluable in the next stage of the Group's development.

"I'm equally delighted that Tim will join the Board, who has a wealth of experience in executive management positions across industrial and services business. We will benefit from his complementary skillset, and I look forward to working with him.

"I would also like to thank Philip for the tremendous support he has given the business during his long tenure as Chair. During this period, he has steered the business through substantial change, provided valuable guidance to the Executive Directors and been a strong advocate of our ambitious growth plans. We wish him well for his retirement."

Commenting on her appointment, Amanda Burton said: "It's a great pleasure to join NWF as the Group continues to grow and implement its strategy. I look forward to working with the Board as we focus on driving returns for shareholders."

Commenting on his appointment, Tim said: "I am extremely pleased to be joining NWF Group plc as a Non-Executive Director and Chair of its Remuneration Committee. With a new senior leadership team now in place, I look forward to working with the Board and supporting the future growth of the business."

Save for the disclosures below, there is no other information that is required to be disclosed under Schedule 2 paragraph (g) of the AIM Rules in relation to the appointment of Amanda Jane Burton as Independent Non-Executive Chair and Timothy John Cooper as Non-Executive Director.

Disclosures required by Schedule Two, paragraph (g) of the AIM Rules for Companies

Amanda Jane Burton, aged 65, holds or has held the following appointments in the last five years:

Dalmarnock Timber and Plywood Company Limited, John Wright & Son (Redditch) Limited, Robinson, David & Co. Limited and William Brown (East Anglia) Limited are all companies which Amanda Burton had been a director, resigned as part of a corporate action, and consequently each company was dissolved before 2000. Each of these companies have subsequently been restored to the Companies House Register by Court Orders for technical reasons.

Timothy John Cooper, aged 65, hold or has held the following appointments in the last five years:

There is no other information that is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules in respect of Amanda Burton or Tim Cooper.

 Information for investors, including analyst consensus forecasts, can be found on the Group's website at www.nwf.co.uk