Confirmation of Chair Appointment

Ultimate Products PLC

01 August 2024

 

1 August 2024

Ultimate Products plc

("Ultimate Products", "Company", or "the Group")

Confirmation of Chair Appointment

Ultimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), is pleased to confirm that, as of today, Christine Adshead has officially assumed the role of Non-Executive Chair, replacing James ("Jim") McCarthy, as announced on 29 April 2024.

Christine is a former Partner at PwC, where she spent nearly 20 years providing transaction advisory services across a range of corporate activities and a variety of sectors, including retail and consumer goods. She was PwC's London region private equity leader, as well as being a national leader for mid-tier private equity. Christine was also an elected member of the PwC Supervisory Board, the governance body for PwC in the UK, which represents the interests of over 900 Partners and is responsible for providing constructive challenge to PwC's UK Executive Board.

Christine is a Non-Executive Director and Board Member of Hill Dickinson LLP, an international commercial law firm headquartered in Liverpool. She has served on the Board of Ultimate Products as a Non-Executive Director since September 2020.

Christine Adshead, Chair of Ultimate Products, commented:

"I am delighted to have formally taken on the role of Chair and am deeply grateful for the outstanding leadership provided by my predecessor, Jim McCarthy. On behalf of the Board, I would like to extend our best wishes to him for the future. Having been a Non-Executive Director on the Board of Ultimate Products since 2020, I have witnessed firsthand the exceptional dedication of this company in bringing beautiful products to every home. I am very much looking forward to continuing to work closely with the team to build on our successes and drive forward our ambitious and brand-led international growth plans."

For more information, please contact:

Ultimate Products [phone]

Andrew Gossage, CEO

Chris Dent, CFO

Shore Capital [phone]

Mark Percy

Malachy McEntyre

David Coaten
Harry Davies-Ball

Isobel Jones

Cavendish Capital Markets Limited + 44 (0)20 7220 0500

Carl Holmes (Corporate Finance)

Matt Goode (Corporate Finance)

Abigail Kelly (Corporate Finance)

Charlie Combe (ECM)

Sodali & Co [phone]

Rob Greening

Sam Austrums

Oliver Banks

Notes to Editors

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group's products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling. Other brands include Progress (cookware and bakeware), Kleeneze (laundry and floorcare), Petra (small domestic appliances) and Intempo (audio).

The Group's products are sold to a broad cross-section of both large national and international multi-channel retailers as well as smaller national retail chains, incorporating discount retailers, supermarkets, general retailers and online retailers.

Founded in 1997, Ultimate Products employs over 370 staff, a significant number of whom have joined via the Group's graduate development scheme, and is headquartered in Oldham, Greater Manchester, where it has design, sales, marketing, buying, quality assurance, support functions and warehouse facilities across two sites. Manor Mill, the Group's head office, includes a spectacular 20,000 sq ft showroom that showcases each of its brands. In addition, the Group has an office and showroom in Guangzhou, China and in Paris, France.

Please note that Ultimate Products is not the owner of Russell Hobbs. The company currently has licence agreements in place granting it an exclusive licence to use the "Russell Hobbs" trademark for cookware and laundry (NB this does not include Russell Hobbs electrical appliances).

For further information, please visit www.upplc.com.  

 

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