2 Sep 2021 07:00
The 600 Group PLC
("600 Group" or "the Group")
Board Changes
2 September 2021
The 600 Group plc, the diversified industrial engineering company (AIM: SIXH), is pleased to announce that Donald Haselton and Todd Riggs have been appointed as Non-Executive Directors of the Group with effect from 2 September 2021.
Don has over 20 years' experience in the industrial engineering sector and has worked in varying roles within the Group since 2006. He is currently, and will remain, the President of 600 Group Inc. and the Managing Director of the Industrial Laser Systems Division of the Group.
Todd has worked in varying roles within the industrial engineering sector since 2005. He is currently a Partner in 5 engineering businesses, including reusable plastic cup producer r.Cup LLC and industrial wipe manufacturer Sellars Absorbent Materials Inc. He also owns his own strategic, financial, and operational consulting business, Riggs & Associates, alongside his wife.
Stephen Rutherford, who has been a 600 Group Non-Executive Director since 2007, will be retiring after the upcoming annual general meeting. The 600 Group board is extremely appreciative of Steve's contribution to the business over the last 14 years and that he leaves the Group in a strong position as it heads into a new chapter.
Along with the above changes to board level management the 600 Group plc board is assuming a purely supervisory, strategic and stewardship role and engaging 600 Group, Inc, a wholly owned subsidiary, to fully manage day to day operations. In that regard, Paul Dupee will transition to a Non-Executive Chairman role of the plc but continue as Executive Chairman of 600 Group Inc. Derek Zissman will continue as Senior Independent Director and chair of the Audit Committee, with Stephen Fiamma continuing as chair of the Remuneration Committee. Neil Carrick will continue as Corporate Secretary.
Paul Dupee, Chairman, said:
"It has been a great pleasure to know and work with Steve for many years and we have benefited greatly from his contribution. We will very much miss his experience and wise council and wish him all the best for the future. At the same time, we are delighted to welcome Don and Todd to the Board and look froward to working with them as we enter the next stage of the Group's development".
Regulatory Disclosures:
In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, Donald James Haselton, aged 68, and Todd Walter Riggs, aged 51, have held the following directorships and partnerships in the past five years:
Donald Haselton:
Current Directorships / Partnerships | Directorships held in the past five years |
600 Group Incorporated | 600 Group Equipment Limited |
Clausing Industrial Incorporated | Commercial Industrial Incorporated |
Control Micro Systems Inc. |
|
TYKMA Electrox, Inc |
|
|
|
Todd Riggs:
Current Directorships / Partnerships | Directorships held in the past five years |
Riggs & Associates | Brown Machine Group LLC |
US Greenfiber | Compass Health |
Sellars Company |
|
r.cup LLC |
|
Blue Team Co-Investors L.P |
|
SES Foam LLC |
|
GF Investors LLC |
|
Neither Donald nor Todd currently hold any ordinary shares in the Company.
ENDS
Enquiries:
The 600 Group PLC Paul Dupee, Executive Chairman Neil Carrick, Company Secretary
|
Tel: +1-407-818-1123 / 01924 415000 |
Instinctif Partners Tim McCall
| Tel: 0207 457 2020 |
Cenkos Securities plc (Nominated Adviser and Broker) Ben Jeynes / Max Gould (Corporate Finance) Alex Pollen / Henry Nicol (Sales) | Tel: 020 7397 8900 |
About The 600 Group PLC
The 600 Group PLC is a distributor, designer and manufacturer of industrial products with three principle areas of activities:
Machine Tools
The business has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines. Selected outsourcing partners support the manufacturing of these machines and they are marketed through the Group's wholly owned international sales organisation and a global distribution network.
Precision Engineered Components
Machine spares are distributed to customers globally to help maintain the installed base of group machines which number in excess of 100,000. Additionally, work holding products are sold via specialist distributors to OEMs, including other machine builders.
Industrial Laser Systems
Industrial laser systems cover laser marking and processing including cutting, drilling, ablation and a host of other niche applications in the marking and micro machining sectors. They require no consumables and can operate on a continuous high speed basis and can be integrated into customers' production lines. The businesses have their own technology and proprietary software. Customer applications are diverse and range from aerospace to medical and pharmaceuticals. The requirement for increased product and component traceability is one of the market drivers.
More information on the Group can be viewed at: www.600group.com