TIDMACRL
RNS Number : 1957H
Accrol Group Holdings PLC
02 December 2020
2 December 2020
ACCROL GROUP HOLDINGS PLC
("Accrol", the "Company" or the "Group")
AIM: ACRL
APPOINTMENT OF CHIEF FINANCIAL OFFICER
Accrol Group, one of the UK's leading independent tissue
converters, is pleased to announce that it has reached formal
agreement with Richard Newman FCA to take up the position of Chief
Financial Officer and join the Board of Accrol with effect from 1
February 2021.
Richard, aged 52, is a highly accomplished executive with 30
years' experience in senior finance roles at FTSE 100 and FTSE 250
companies, Cadbury PLC, National Express Group PLC and DS Smith
PLC.
His career began at PwC in 1991, where he qualified as a
Chartered Accountant. Richard joined Cadbury PLC in 1996,
progressing to Finance and IT Director, Ireland, and, latterly,
Group Financial Controller. After 15 years with Cadbury, he took a
new role as Divisional Finance Director at National Express Group
PLC, before joining DS Smith PLC in 2015, as UK Finance Director
for Packaging.
Richard is currently Regional Finance Director for North Europe
at DS Smith PLC, with commercial, operational, and corporate
finance responsibilities across the UK, Germany, Benelux and the
Nordics.
The Board considers that Richard's proven leadership skills,
knowledge and breadth of experience in M&A, FX Management and
FMCG, gained during his career with large PLCs, will significantly
strengthen the Group's finance function and be invaluable in the
delivery of the Group's significant expansion plans over the coming
years.
Dan Wright, Executive Chairman of Accrol, said:
"Richard has worked with key members of our senior team here at
Accrol, and his decision to join us, from a successful global,
multi-billion-pound business, demonstrates the confidence he has in
our ability to deliver on our plan. We are focused on building a
diversified tissue and personal hygiene business of considerable
scale organically and by acquisition and Richards's proven M&A
and integration skills will be integral in the achievement of our
ambitions."
Gareth Jenkins, Chief Executive Officer of Accrol said:
"The building blocks for growth are now firmly in place at
Accrol and the acquisition of Leicester Tissue Company in November,
signalled our intentions for the Group. Richard will be key to the
delivery of our growth plans and, having worked with him at DS
Smith, I know first-hand the valuable skill set he will bring to
the Group.
"He will help accelerate our significant expansion plans,
building on the strong foundations put in place over the last three
years, and the delivery of significant returns to our
shareholders."
From 1 February 2021, the Board will comprise Daniel Wright
(Executive Chairman); Gareth Jenkins (Chief Executive Officer);
Richard Newman (Chief Financial Officer); and Euan Hamilton and
Simon Allport (Non-Executive Directors).
The following information is disclosed as required under
Schedule Two paragraph (g) of the AIM Rules for Companies.
Richard Newman currently holds the following directorships which
will end upon his appointment to Accrol Group Holdings Plc
-- DS Smith Corrugated Packaging Limited
-- DS Smith Packaging Limited
-- TRM Packaging Limited
Previous directorships including all of those held within the
last five years are listed below:
-- Creo Property Limited
-- Creo Retail Marketing Holdings Limited
-- Creo Retail Marketing Ltd
-- TRM Trustees Limited
Richard holds 5,000 Accrol Group Holdings plc ordinary shares of
GBP0.001 each.
There is no further information on Richard 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 Via Belvedere Communications
Gareth Jenkins, Chief Executive Officer
Zeus Capital Limited (Nominated Adviser
& Broker)
Dan Bate / Jordan Warburton Tel: +44 (0) 161 831 1512
Dominic King / John Goold Tel: +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100 2222
Clayton Bush / Edward Thomas
Belvedere Communications Limited
Cat Valentine Tel: +44 (0) 7715 769 078
Keeley Clarke Tel: +44 (0) 7967 816 525
Llew Angus Tel: +44 (0) 7407 023 147
accrolpr@belvederepr.com
Overview of Accrol
Accrol Group Holdings plc is a leading tissue converter and
supplier of toilet tissues, kitchen rolls and facial tissues to
many of the UK's leading discounters and grocery retailers across
the UK. Following the recent acquisition of a state-of-the-art
tissue converter based in Leicester, the Group now operates from
five sites, including four in Lancashire, which generate revenues
totalling c.16% of the GBP1.7bn UK retail tissue market.
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END
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