Luceco PLC Directorate Change (2752F)
February 19 2018 - 5:01AM
UK Regulatory
TIDMLUCE
RNS Number : 2752F
Luceco PLC
19 February 2018
19 February 2018
Luceco plc
("the Group")
Directorate Change
The Board of Luceco, the manufacturer and distributor of high
quality and innovative LED lighting products, wiring accessories
and portable power products, announces today that David Main has
stepped down as Chief Financial Officer and from the Board to
pursue other opportunities and that Matthew (Matt) Webb has been
appointed Chief Financial Officer with immediate effect.
Matt joins from FTSE 100 listed multinational building materials
distribution company Ferguson plc, where he most recently spent
five years as Finance Director for its market-leading US Blended
Branches business, based in the USA. This business is a significant
part of Ferguson's operations, accounting for $9 billion in revenue
and over half of total Group earnings. It sustained rapid,
profitable growth throughout his tenure. Prior to that, Matt held
other senior Group roles at Ferguson including Group Financial
Controller and Strategic Planning Manager.
Matt joined Ferguson from BPB plc, the former FTSE 100
manufacturer of building interiors, which was acquired by
Saint-Gobain during his tenure. He qualified as a Chartered
Accountant with KPMG and holds a degree in Engineering Science from
the University of Oxford.
Commenting on the appointment, Giles Brand, Non-Executive
Chairman, said:
"I'm delighted that Matt is joining the Group. I have no doubt
that his strong experience of working in FTSE 100 businesses with
international operations will be of great benefit to Luceco as we
continue to invest in the future growth of the business.
"On behalf of the Board, I would like to thank David for his
contribution to Luceco over the past two years. We wish him well
for the future."
-ENDS-
Details of remuneration payments to be made to David Main will
be in line with his contract and Luceco's Remuneration Policy and
will be posted on Luceco's website in accordance with section
430(2B) of the Companies Act 2006 in due course.
Further enquiries:
For further information, please contact
Luceco plc via MHP Communications
John Hornby, Chief Executive 020 3128 8100
Officer
MHP Communications
Tim Rowntree
James White
Ollie Hoare 020 3128 8100
Notes to Editors:
Luceco is a rapidly growing manufacturer and distributor of high
quality and innovative LED lighting products and wiring accessories
for a global customer base.
The Group supplies trade distributors, retailers, wholesalers
and project developers with a wide range of products which broadly
fall into the following market recognised brands:
- Luceco: energy efficient LED lighting products and associated accessories;
- British General (BG): wiring accessories (including switches,
sockets), circuit protection and cable management products;
- Masterplug: cable reels, extension leads, surge protection, timers and adaptor products; and
- Ross: television wall mounts, audio visual accessories and other items.
The Luceco LED lighting brand continues to benefit from the
disruptive shift away from mature lighting technologies as a result
of the material advancement in LED technology in recent years. The
brand has continued to successfully leverage the Group's existing
customer base and low-cost Chinese manufacturing facility.
Consequently, it remains well positioned to build on its impressive
organic growth trajectory to date.
In the electrical wiring accessories market, Luceco's BG and
Masterplug brands have continued to reinforce their market leading
positions through further new product development initiatives,
expanding into new product adjacencies and gaining market
share.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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