SIG Regulatory News (SHI)

14 November 2012

SIG Directorate Change

Chris Davies, 58, will leave SIG in March 2013 after 19 years' service to focus on non-executive roles. In his 5 years as Group CEO, Chris has steered the Group through the most challenging trading period in its history, driving through substantial operational and commercial efficiencies and refocusing the Group on its core activities.

He will be succeeded by Stuart Mitchell, who joins SIG from Wilkinson Hardware Stores where as CEO he delivered significant growth in sales and profitability. He brings to the Group proven leadership and strategic skills, a strong commitment to operational excellence and innovation, and a deep understanding of multi-site distribution and supply chain management acquired in a career which has included Managing Directorships at Hutchison Whampoa and J. Sainsbury.

Stuart will join SIG as CEO designate on 1 December 2012, and take over as Group CEO in March 2013 following an effective hand over with Chris Davies.

Commenting, SIG Chairman Leslie Van de Walle said:

"Chris leaves SIG in good shape and in good hands. As CEO, he has further strengthened our European business, integrated and focused our UK operations, rejuvenated our senior management team and ensured that we have a robust balance sheet and a solid platform for future growth.

"On behalf of the Board I would like to thank Chris for his major contribution to the Group and the strong leadership he has shown as CEO through challenging times. We extend him every good wish for his post executive career.

"I would also like to welcome Stuart to SIG. The Board believes he has the right skills and experience to be a worthy successor to Chris and we are looking forward to working with him through the next stage of the Group's development."

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