Last checked at 19 Oct 2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").
Science in Sport plc
(the "Company")
Directorate Change
Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts, and the active lifestyle community, announces that Stephen Moon is stepping down from his role as CEO. This will take place with immediate effect, with Stephen remaining employed, and on garden leave, during his notice period. Chairman Dan Wright has been appointed as Executive Chairman.
Dan Wright, Chairman, commented: "We would like to thank Stephen for the role he has played with the Company for over a decade. He has been instrumental in Science in Sport and PhD becoming leading sports nutrition brands, culminating in the completion of the world class supply chain facility in Blackburn that is pivotal for the next phase of profitable growth."
Stephen Moon, former Chief Executive commented: "It has been a privilege to serve as Chief Executive for over the last ten years. Over my tenure, the business has grown from humble beginnings to a world class manufacturing facility, with a global omni-channel presence underpinned by two market leading brands. This could not have been delivered without the hard work and dedication of a talented workforce that I have had the pleasure to lead over this period. The business is set up to leverage the investment made in the Blackburn facility, which I believe will deliver continued high levels of growth and profitability over the long term."
For further information:
Science in Sport plc | T: 020 7400 3700 |
Dan Wright, Executive Chairman Daniel Lampard, CFO
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Liberum (Nominated Adviser and Broker) | T: 020 3100 2000 |
Richard Lindley / Anake Singh
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Notes to Editors
About Science in Sport plc
Headquartered in London, Science in Sport plc is a leading sports nutrition business that develops, manufactures, and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the active lifestyle community. The Company has two highly regarded brands, PhD Nutrition, a premium active-nutrition brand targeting the active lifestyle community, and SiS, a leading endurance nutrition brand among elite athletes and professional sports teams.
The two brands sell through the Company's phd.com and scienceinsport.com digital platforms, third-party online sites, including Amazon and Tmall, and extensive retail distribution in the UK and internationally, including major supermarkets, high street chains and specialist sports retailers. This omnichannel footprint enables the Company to address the full breadth of the sports nutrition market, sports nutrition market, worth $24.6bn in 2022 and forecast to grow CAGR 5.9% from 2022 to 2027.1
SiS, a leading endurance nutrition business founded in 1992, has a core range comprising gels, powders and bars
focused on energy, hydration, and recovery. SiS is an official endurance nutrition supplier to over 320 professional teams, organisations, and national teams worldwide.
SiS is Performance Solutions partner to Ineos Grenadiers cycling team, Tottenham Hotspur and CGC Nice football, as well as Official Nutrition Partner to the Milwaukee Bucks, 2021 National Basketball Association Champions.
PhD is one of the UK's leading active nutrition brands with a reputation for high quality and product innovation. The brand has grown rapidly since its launch in 2005. The range now comprises powders, bars, and supplements, including the high protein, low sugar range, PhD Smart. PhD brand ambassadors include leading endurance and strength athlete Ross Edgley and influencer Gabby Allen.
For further information, please visit phd.com and scienceinsport.com
1 Euromonitor Passport Database Global Assessment (October 2022)