TIDMACRL
RNS Number : 8955Y
Accrol Group Holdings PLC
28 August 2018
For release: 28 August 2018 at 07:00 am
Accrol Group Holdings plc
("Accrol" or the "Company")
BOARD AND SENIOR MANAGEMENT CHANGES
Board Changes
Accrol Group Holdings plc (AIM:ACRL), the AIM-listed leading
independent tissue converter, is pleased to announce that Euan
Hamilton has been appointed Independent Non-Executive Director with
immediate effect. Euan replaces Stephen Hammett, who has today
stepped down from the Board as Non-Executive Director. The Board
thanks Steve and wishes him well as he leaves the Company to pursue
other interests.
Euan is an international finance executive with over 35 years'
experience. Much of his career was spent at the Royal Bank of
Scotland Group, until his retirement in 2011, during which time he
held numerous roles, chiefly within the Leveraged Finance Division
and latterly as Deputy CEO of the Non-Core Division.
In 2013, Euan joined Bank of Cyprus Group as Director in the
group's Restructuring and Recoveries Division, a role he held until
2015. He is currently a consultant for Bank of Cyprus and a
non-executive director of the UK plc subsidiary.
The Board now comprises:
-- Dan Wright, Executive Chairman;
-- Gareth Jenkins, Chief Executive Officer;
-- Steve Townsley, Chief Financial Officer;
-- Joanne Lake, Independent Non-Executive Director; and
-- Euan Hamilton, Independent Non-Executive Director.
Dan Wright, Executive Chairman of Accrol, said: "Euan is a
finance professional of high standing, with clarity of thought,
high standards and independence of mind. He appreciates the rigours
of a turnaround situation and the demands of a restructuring from
an operational perspective. I am sure the Board and business will
benefit from his straight-forward objectivity and unremitting
focus."
"On behalf of the Board, I welcome Euan to the business and look
forward to his contribution."
Senior Management Changes
Accrol also announces that Mark Dewhurst, currently Operations
Director of DS Smith Packaging in Northern Europe, has agreed join
the Group as Chief Operating Officer from the 1(st) September
2018.
Mark's career at DS Smith spans nine years, during which he has
gained significant experience in transformational change and
Operational Excellence and has track record for delivering
sustainable performance improvement, through strategic planning,
leadership and communication skills.
Mark will take over the role of COO from Don Coates, who joined
Accrol in October 2017 to assist in the early stages of the Group's
turnaround. Don will leave Accrol to take up a CEO role, following
an orderly handover.
Gareth Jenkins, Chief Executive Officer, said: "It is a
statement of how much progress we have made that Accrol is able to
attract an operational leader of Mark's capability. We look forward
to the knowledge and operational experience he will bring to the
business, as we continue to progress the turnaround and establish
Accrol as the leader in the industry."
"On behalf of the Board, I would like thank Don for his support
over the past nine months and dedication to helping us secure a
successful turnaround for the business."
Information on Euan Hamilton required to be disclosed under
Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for
Companies:
Euan Hamilton, aged 57, is currently a director of the following
companies:
-- Bank of Cyprus UK Limited
-- Cramond Capital Partners Limited
-- Packall Limited
-- Nicosia Mall Property (NMP) Limited
-- Nicosia Mall Management (NMM) Limited
-- Nicosia Mall Finance (NMF) Limited
-- Nicosia Mall Holdings (NMH) Limited
In addition, Euan has held the following directorships in the
past five years:
-- Iperi Properties Limited
Euan has no interests in the share capital of Accrol Group
Holdings plc.
There is no further information on Euan required to be disclosed
under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for
Companies.
For further information, please contact:
Accrol Group Holdings plc
Dan Wright, Executive Chairman Tel: +44 (0) 1254 278 844
Gareth Jenkins, Chief Executive Officer
Steve Townsley, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser
& Broker)
Dan Bate / Andrew Jones Tel: +44 (0) 161 831 1512
Dominic King / John Goold Tel: +44 (0) 203 829 5000
Belvedere Communications Limited
Cat Valentine (cvalentine@belvederepr.com) Tel: +44 (0) 7715 769 078
Llew Angus (langus@belvederepr.com) Tel: +44 (0) 7407 023 147
Notes to Editors
Accrol Group Holdings plc, based in Lancashire, is a leading
tissue converter and supplier of toilet rolls, kitchen rolls and
facial tissues, as well as other tissue products, to major
discounters and grocery retailers throughout the UK.
Accrol operates from three sites:
-- A manufacturing, storage and distribution facility in Blackburn;
-- A facial tissue plant, also in Blackburn; and
-- A manufacturing, storage and distribution facility in Leyland.
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END
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