Board Changes

RNS Number : 4869D

Walker Greenbank PLC

10 October 2018

 

For immediate release	10 October 2018

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

Board Changes

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that John Sach will today step down from his role as Chief Executive and will leave the Company on 31 October 2018.

Christopher Rogers, currently a Non-executive Director, will from today become Interim Executive Chairman until such time as a new Chief Executive is appointed. Terry Stannard, until today Non-executive Chairman, will remain on the Board as a Non-executive Director.

As a result of these changes, Christopher Rogers will step down from his role as Chairman of the Audit Committee and Terry Stannard will become Chairman of the Audit Committee until an additional Non-executive Director is appointed.

The search for a new Chief Executive, and for an additional Non-executive Director, has commenced and further announcements will be made as appropriate.

Terry Stannard, Non-executive Chairman of Walker Greenbank, commented:

"On behalf of the Board, I would like to thank John for his significant contribution to the Company and the pivotal role he has played in the Company's development during more than 20 years. He leaves the Company with our best wishes, and we wish him every success for the future. The search for a new Chief Executive has commenced and reflects the leadership needs of the business going forwards."

John Sach commented:

"During my 15 years as Chief Executive of Walker Greenbank, we have transformed the Company by launching and acquiring new brands, developing new revenue streams and growing the business internationally. The evolution of the business continues and now is the time for me to hand over to a new Chief Executive to lead the Company in the next stage of its development. Walker Greenbank is a high-quality business with excellent brands and skilled manufacturing. I have great belief in its future success."

For further information:

Walker Greenbank PLC	c/o [phone]
Christopher Rogers, Interim Executive Chairman
Mike Gant, Chief Financial Officer Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser and Broker)	[phone]
David Anderson / Alex Wright - Corporate Finance
Henry Reast / Richard Short - Corporate Broking
Buchanan	[phone]
Mark Court / Sophie Wills / Catriona Flint

Notes for editors:

About Walker Greenbank

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.

Walker Greenbank's brands include Sanderson, Morris & Co, Harlequin, Zoffany, Scion, Clarke & Clarke and Studio G.

The Company has a strong UK manufacturing base, comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.  

Walker Greenbank employs more than 600 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris, Amsterdam, Moscow and Dubai along with a partnership showroom in Shenzhen, China.

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

For further information please visit: www.walkergreenbank.com 

 

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