Speedy Hire Regulatory News (SDY)

Speedy Hire Plc ("Speedy", "the Company" or "the Group")

11 May 2022

Future Board change

Speedy Hire Plc announces that, after seven years with the Company, Russell Down, Chief Executive, has advised the Board of his intention to retire. Russell will remain with the business until a successor is in place, to ensure a smooth and orderly transition. The recruitment process for a replacement is underway and an update will be provided to the market at the appropriate time.

Russell joined Speedy in April 2015 as Group Finance Director and assumed the role of Chief Executive in July 2015. The Group has been transformed over this period having improved its service proposition, grown service revenues, developed a market leading ESG proposition, sold its Middle East operations, significantly expanded its presence within the SME and retail markets and digitised its internal and external operations.

As previously announced the Group expects to report results in line with its expectations on 24 May 2022.

David Shearer, Chairman, said:

"I would like to thank Russell personally and on behalf of the Board for his significant contribution as Chief Executive over the last seven years. Under his leadership, the business has been transformed and is now well positioned for future growth with an ambitious management team. We wish him well for the future."

Russell Down, Chief Executive, said:

"I am proud to have been Chief Executive at Speedy for the last seven years and of all we have achieved during this period.

We are leading the hire market with our digital offering, customer service proposition and ESG strategy, and also have a growing presence in the retail sector. The business is performing well, has a strong balance sheet and is well positioned for future growth.

I would like to take this opportunity to thank all of my exceptionally talented colleagues, our customers and suppliers for their support and wish them well for the future."

Enquiries:

Inside Information: This announcement contains inside information.

Notes to Editors: Founded in 1977, Speedy is the UK's leading provider of tools, equipment and plant hire services to a wide range of customers in the construction, infrastructure and industrial markets, as well as to local trade and industry. The Group provides complementary support services through the provision of training, asset management and compliance services. Speedy is certified nationally to ISO27001, ISO50001, ISO9001, ISO14001 and OHSAS18001. The Group operates from over 200 fixed sites across the UK and Ireland together with a number of on-site facilities at client locations and through a joint venture in Kazakhstan.