Appointment of New Chairman

RNS Number : 1430G

Connect Group PLC

02 March 2015

 



                                                                                                                                2 March 2015

Connect Group PLC

("Connect Group" or "the Company")

Appointment of New Chairman

Connect Group, a leading specialist distributor operating in four divisions; News & Media, Books, Education & Care and Parcel Freight, is pleased to announce that Gary Kennedy will join the Board as a non-executive director and Chairman-designate with immediate effect.  In line with the Board's non-executive director succession plans announced on 15 October 2014, Gary will subsequently become non-executive Chairman when Dennis Millard steps down as Chairman and retires from the Board on 1 May 2015.  Hewill also chair the Nominations Committee and be a member of the Audit and Remuneration Committees.

Gary Kennedy has extensive business experience with Deloitte, Nortel Networks (Vice President of Nortel Europe) and during the latter part of his executive career with Allied Irish Banks plc, where he was Group Director of Finance and Enterprise Technology and a member of its main Board together with subsidiary Boards in the US and Poland.  He is currently Chairman of Greencore Group plc; Chairman of Green REIT plc and a non-executive director of Friends First Holdings Ltd. He has previously been a non-executive director of Elan Corporation plc and Irish Bank Resolution Corporation Ltd, as well as serving on the Board of the Industrial Development Authority of Ireland for 10 years, retiring in December 2005.

Commenting on his forthcoming retirement, Dennis Millard said: "It has been a privilege to serve on the Connect Group board since it was first listed in 2006. The Group's transition from a single activity business to a leading specialist distributor operating in four divisions has been an exciting journey, and we are proud to have delivered an unbroken record of dividend growth since 2006.  It has been a pleasure to work with such a fine board and executive team and I thank all of them for their support over these years.  I welcome Gary to the Connect Group family and wish him and all of the colleagues in the Group the very best".

Mark Cashmore, Group Chief Executive, said:

"I am delighted to welcome Gary to Connect Group.  His experience across a variety of industries is highly relevant to the Group and will be a valuable asset as we continue to grow our business." 

"I would also like to thank Dennis Millard for his clear leadership, unwavering dedication and contribution to the success of the Group during his time as a director and Chairman."

Gary Kennedy said: "Connect Group has a clear strategy to build a balanced portfolio of specialist distribution businesses that will continue to grow and deliver strong returns for shareholders.  I am very much looking forward to working with the Board and supporting the further development of this strategy."

The Company confirms that there is no further information about Gary Kennedy requiring disclosure under paragraph 9.6.13 (2) to (6) of the Listing Rules of the UK Listing Authority.

Enquiries:

Connect Group PLC
Mark Cashmore, Group Chief Executive	Tel: [phone]
Buchanan
Richard Oldworth Sophie McNulty Gabriella Clinkard	Tel: [phone]

About Connect Group PLC:

Connect Group PLC is a leading specialist distributor operating in large and diverse markets. The Group has four separate divisions, connecting suppliers to customers in an efficient, knowledgeable and service oriented way:

•          Connect News & Media - Encompassing: Smiths News and Dawson Media Direct. Smiths News is the UK's largest newspaper and magazine wholesaling business with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the majority of the major national publishers as well as a large number of regional publishers serving approximately 30,000 customers across England and Wales, including large general retailers as well as smaller independent newsagents with approximately 40 million newspapers supplied weekly; Dawson Media Direct is an international media direct business supplying newspapers, magazines and inflight entertainment technology and content to over 80 airlines in 50 countries. In October 2014, the Connect Group announced the launch of Pass My Parcel, a new wholly-owned 'click and collect' delivery service to be operated by the News Business with Amazon as its first client. The Directors consider it to be an important organic opportunity with significant potential.

•          Connect Books - Combining a number of recognised brands in print and digital bookselling, including Bertrams, Dawson Books and Wordery. A leading distributor of physical and digital books, the division serves over 8,200 customers in approximately 100 countries, with over 156,000 in stock titles and access to over a further seven million consumer and twenty million academic titles.

•          Connect Education & Care - A leading independent supplier of consumable products through The Consortium and West Mercia Supplies. The division currently holds an approximate 5 per cent. market share of the estimated addressable market, comprising the consumables element of education spend and serves over 30,000 customers with an extensive range of over 40,000 products across a branded, own-brand and value range, including stationery, arts and craft and cleaning.

•          Connect Parcel Freight - Tuffnells is a leading provider of next-day B2B delivery of mixed freight/parcel consignments, specialising in items of irregular dimension and weight ("IDW"), examples of which include bulky furnishings, building materials and automotive parts. Tuffnells offers distribution coverage throughout the UK through a network of 34 depots and operates a largely depot-to-depot operational model, providing over 10 million deliveries per annum, through a wide range of services to over 4,200 customers focusing on SMEs.

 

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