John Lewis Of Hungerford PLC Directorate Change (8733I)
September 05 2016 - 1:00AM
UK Regulatory
TIDMJLH
RNS Number : 8733I
John Lewis Of Hungerford PLC
05 September 2016
John Lewis of Hungerford plc
Director Succession
The Board of John Lewis of Hungerford plc announces that Jon
Rosby is to stand down as Managing Director on 30(th) September
2016.
Jon has led the Company for ten years, and during this time has
developed the business by adding new showrooms, new ranges, a
market leading installation service and the new Bedrooms range. He
is leaving by mutual agreement to pursue other opportunities and
will be succeeded by Kiran Noonan who will become Managing Director
effective from 3(rd) October 2016. Jon will resign as a director on
30(th) September 2016 and following a handover period, during which
Jon will support Kiran in her new role and ensure the smooth
transition of responsibilities, he will leave the business on
31(st) December 2016.
Kiran joined the business as Head of Sales and Marketing in 2012
and was appointed to the Board in 2013. She has spent four years
establishing a dedicated, competent and disciplined sales team. The
growth in sales over the last four years has given the business the
platform to work towards a more profitable period.
The Company also recruited a Head of Operations during the last
financial year, which has led to the development of a more
structured and efficient factory environment. Over recent months,
it has become clear that this role is now adding value in
simplifying many processes which are delivering tangible benefits
to the manufacturing process.
The Company has two core competencies, the sale and manufacture
of kitchens and bedrooms. With both the sales and the manufacturing
areas now on course to be operating at a sustainable level, the
Board agree that this is the right time for Kiran to take the lead
across the business, to return to profitability. As a consequence
of the streamlined management structure introduced by Jon in 2016,
responsibility for sales and the strategic leadership of the
business will be combined to deliver further cost savings.
Ken McNaught, Chairman, commented: "On behalf of the whole Board
I would like to express appreciation for what Jon has achieved
during his time with the business. Latterly, the changes he has
implemented to our operating structure have reduced our underlying
cost base significantly and leave us better positioned to drive
returns for shareholders from the sales growth secured in recent
years. The Board believe the new streamlined management structure
will be an important factor as we seek to return the business to
profitability in 2017."
Enquiries:
John Lewis of Hungerford plc 01235 774300
Ken McNaught, Chairman
Smith & Williamson Corporate Finance
Limited
Martyn Fraser 0117 376 2213
Katy Birkin 0207 131 4000
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAUGUGCBUPQGAP
(END) Dow Jones Newswires
September 05, 2016 02:00 ET (06:00 GMT)
John Lewis Of Hungerford (LSE:JLH)
Historical Stock Chart
From Apr 2024 to May 2024
John Lewis Of Hungerford (LSE:JLH)
Historical Stock Chart
From May 2023 to May 2024