Directorate Change

RNS Number : 6026P

McBride PLC

11 June 2020

 

11 June 2020

McBride plc

Directorate Change

McBride plc (the "Group"), the leading European manufacturer and supplier of Contract Manufactured and Private Label products for the domestic Household and professional cleaning and hygiene markets, announces the appointment of Chris Smith as Chief Executive Officer (CEO) from today.  Chris joined the Group in 2015 as Chief Financial Officer (CFO).

Ludwig de Mot , who was appointed CEO on 1 November 2019, has left the Group with immediate effect.  We are grateful for his contribution to McBride and wish him well in his future endeavours.

The Group's Nomination Committee has commenced a search for a CFO and in the meantime the Group intends to appoint an external candidate as interim who will be supported by the Group's experienced finance team.  During this time, Chris will provide support with the transition and an orderly handover of CFO responsibilities to his successor.

The Board can confirm that there has been no material change in the trading or financial prospects of the Group since McBride issued its trading update on 19 May 2020.

Jeff Nodland, Chairman, said:

"I am delighted that Chris has accepted the role as the Group's new CEO.  Over the five years Chris has been with McBride, he has demonstrated his strong international leadership capabilities in multi-site and multi-country organisations.  Chris has always been dedicated and passionate about the business and the Board believe his determination and enthusiasm make him the best person to lead the Company through its strategy review and beyond."

Chris Smith said:

"I look forward to working with the Board and the wider team at McBride as CEO to complete our strategy review and take the business forward as we implement our plans.  I firmly believe in our ability to create sustained value for our shareholders as we continue to evolve and adapt this business for the future."

For further information please contact:

McBride plc
Chris Smith, Chief Executive Officer	0161 203 7570
Glenda MacGeekie, Company Secretary
FTI Consulting LLP	020 3727 1017
Ed Bridges, Nick Hasell

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

-Ends-

Notes and other disclosures

Payments on termination to Mr de Mot will be made in accordance with his service contract.  No bonus or share awards are due under the Remuneration Policy or otherwise.

There are no additional matters that would require disclosure under LR 9.6.11 or LR 9.6.14.

 

END

 

 

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