Vp Regulatory News (VP.)

Vp plc

('Vp' or the 'Group' or the 'Company')

Board Changes

Vp plc, the equipment rental specialist, today announces that the Group's Chief Executive, Neil Stothard, has informed the Board of his decision to retire from the Group at the end of September 2023. Neil has been with Vp since 1997 when he joined as Group Finance Director, later becoming Managing Director in 2004 before transitioning to Chief Executive. 

Anna Bielby, the Group's Chief Financial Officer will become Chief Executive on 1 September 2023 and will work with Neil until then to facilitate an orderly handover. Anna has been CFO of Vp since 1 January 2023. Her previous roles include Interim CFO at Lookers plc, CFO of KCOM Group PLC and a director at PwC. The Group has commenced a CFO recruitment process and further regulatory announcements will be made regarding this position in due course as appropriate.

Commenting on the Board Changes, Jeremy Pilkington, Chairman of Vp, said: "I want to record my personal thanks to Neil for his service to the Company and me since joining Vp in 1997 as Group Finance Director and in 2004 assuming the role of Managing Director and subsequently Chief Executive. Working with Neil to exit the general plant hire sector to focus on a specialist rental offering created the platform for our continued success and growth. Neil's dedication and strong leadership has been central to Vp's prosperity and enables us to look to the future with confidence and optimism.

My fellow directors and I would like to welcome Anna as our new CEO. Anna has been a great addition to the Board since her appointment as CFO in January this year and our decision to appoint Anna as Chief Executive was an easy one. In January 2023 the Board was strengthened with the appointments of Mark Bottomley and Stuart Watson as non-executive directors and I believe we have the right Board and wider team in place to continue to drive the business forward.

"We have achieved a great deal over the years with Neil at the helm and on behalf of everyone at Vp I want to wish him the very best in his retirement."

- Ends -

For further information:

Notes to Editors

Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and energy markets, both in the UK and overseas.

The Group comprises a UK and an International division:

UK

Groundforce

A market leading rental and design provider of excavation support systems and specialist products to the water, civil engineering and construction industries with operations in the UK, the Republic of Ireland and mainland Europe.

Brandon Hire Station

The leading provider of tools and specialist rental products to industry, construction and home owners across the UK.

ESS

The leading specialist provider of safety, survey, communications and test & measurement equipment rental in the UK.

MEP Hire

The UK's largest provider of mechanical and electrical press fittings and low level access platforms to the construction, fit out, mechanical and electrical markets.

Torrent Trackside

Specialist suppliers of rail infrastructure portable plant and related trackside services to Network Rail, London Underground and their appointed track renewal, maintenance and project contractors.

TPA

One of Europe's largest suppliers of temporary access solutions. Operating from bases in the UK and Germany, TPA provides portable roadways and temporary access solutions to customers in the transmission, construction, rail and outdoor events markets.

UK Forks

One of the UK's leading specialist hirers of telescopic handlers. The products and services are utilised by its customers to improve safety and productivity on construction and housebuilding sites across the UK.

International

Airpac Rentals

An international business supporting a wide range of oil and gas markets, servicing well test, pipeline testing, rig maintenance and LNG markets worldwide.

TR Group

Australasia's leading technical equipment rental group providing test and measurement, communications, calibration and audio visual solutions in Australia, New Zealand and South East Asia.

Further information is available at www.vpplc.com/investors