Board Changes

RNS Number : 3680G

Eco Animal Health Group PLC

26 July 2021

 

ECO Animal Health Group plc

(''ECO" or "the Group")

(AIM: EAH)

Board Changes

CEO to retire in FY 2022-23

Marc Loomes, who joined ECO Animal Health Group plc in 2004, became Managing Director in 2005 and CEO in 2010, has informed the Board that he plans to retire on 31 December 2022. During his tenure, the Company has grown sales revenues over sevenfold from £14m to over £100m.

The Board has therefore commenced a formal process with a leading executive search consultancy to identify and appoint a successor to take over from Marc during the 2022-23 financial year.

Marc Loomes, CEO said:

"ECO has grown rapidly and undergone many changes particularly over the past five years.  We are enjoying strong trading and have established a solid platform for the next stage of ECO's future growth with our vaccine development portfolio. I have thoroughly enjoyed my time at ECO and I am proud of what we have achieved. I believe that these timescales reflect the right time to hand over to a new CEO who will be most ably supported by a strong operational executive leadership team."

Andy Jones, Chairman of ECO Animal Health, commented :

 "We have begun our search for Marc's successor and are confident of a smooth transition as Marc has agreed to stay with us during the 2022-23 year, until a successor is in place and a full and successful handover has been completed.  We are hugely grateful to Marc for his significant contribution and strong leadership he has provided over the last 17 years, and his total commitment to ensure a smooth succession process."

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR") as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Contacts:

ECO Animal Health Group plc Andy Jones (Chairman) Marc Loomes (CEO)	020 8447 8899
IFC Advisory Graham Herring Zach Cohen	020 3934 6630
Singer Capital Markets (Nominated Adviser & Joint Broker) Mark Taylor Peter Steel Iqra Amin	020 7496 3000
Peel Hunt LLP (Joint Broker) James Steel Dr Christopher Golden	020 7418 8900

About ECO Animal Health

ECO Animal Health Group plc ("ECO" or "the "GROUP") researches, develops and commercialises products for livestock. Our business strategy is to generate shareholder value by achieving the maximum sales potential from the existing product portfolio whilst investing in Research and Development ("R&D") for new products, particularly vaccines, and seeking to in-license new products.

 

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