TIDMUPGS
RNS Number : 4950Z
UP Global Sourcing Holdings PLC
21 September 2020
21 September 2020
UP Global Sourcing Holdings PLC
"Ultimate Products" or "the Company"
Board Changes
Ultimate Products, the owner, manager, designer and developer of
an extensive range of value-focused consumer goods brands, is
pleased to announce the appointment of Jill Easterbrook and
Christine Adshead as independent Non-Executive Directors with
effect from 21 September 2020. At the same time, Barry Franks, the
Company's co-founder and a Non-Executive Director, will step down
from the Board but will remain in the business as President in
recognition of his outstanding and continuing contribution to
Ultimate Products since its inception in 1997.
Jill Easterbrook was previously the CEO of Boden, the fashion
retailer, having formerly worked at Tesco plc for 16 years in a
variety of senior roles including Group Business Transformation
Director, Chief Customer Officer, Managing Director of UK and ROI
Clothing, and Group Strategy Director. Jill started her career in
merchandising for Marks & Spencer Group plc, and also worked
for four years as a Management Consultant for Cap Gemini Ernst
& Young. Jill is a Non-Executive Director of two FTSE 100
companies - Auto Trader Group plc and Ashtead Group plc.
Christine Adshead 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.
Barry Franks has been a Non-Executive Director of Ultimate
Products since 2005, having invested in the Company alongside Simon
Showman, CEO, when it was founded in 1997.
Commenting on the changes, Jim McCarthy, Chairman of Ultimate
Products, said: "We are very pleased to be welcoming two Board
members of Jill and Christine's calibre to Ultimate Products. Jill
brings with her a hugely relevant skillset from her many years of
working for some of the biggest names in UK retail, whilst
Christine's long career in senior advisory positions will be
invaluable. We look forward to benefitting from their outstanding
track records in a variety of leadership, strategy, advisory and
operational roles.
It is impossible to overstate the contribution that Barry has
made to Ultimate Products, from his role as co-founder and mentor
to Simon Showman in the early days of the Company to his financial
backing of the buy-out of LDC's investment in 2014. We are
delighted that the Company will continue to benefit from his
expertise in his new role as President.
On behalf of the Board, I would like both to warmly welcome Jill
and Christine, and to express our heartfelt gratitude to
Barry."
For more information please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Edward Mansfield
Sarah Mather
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Additional disclosures in relation to appointment:
Jill Easterbrook
Current directorships Past directorships and partnerships
held over the last five years:
Auto Trader Group plc Tesco International Internet
Retailing Limited
Ashtead Group plc Dobbies Garden Centres Limited
Tesco Mobile limited
Christine Adshead
Current directorships Past directorships and partnerships
held over the last five years:
Hefferston Hall Management Company Pricewaterhousecoopers Llp
limited
No further disclosures are required under listing rule
9.6.13
Notes to Editors
Ultimate Products is an owner, manager, designer and developer
of a series of well-known brands focused on the home, selling to
over 300 retailers across 38 countries. It has six major product
categories: Audio; Heating and Cooling; Housewares; Laundry;
Luggage; and Small Domestic Appliances. Its brands include Beldray
(laundry, floor care, heating and cooling), Intempo (audio), Salter
(kitchenware), Kleeneze (laundry), and Progress (cookware and
bakeware).
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 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 Cologne, Germany.
Ultimate Products' graduate development scheme was launched in
2012 and in 2018 it welcomed its one-hundredth graduate. In total,
Ultimate Products now employs over 250 staff.
Please note that Ultimate Products is not the owner of Russell
Hobbs or Salter. The company currently has licence agreements in
place granting it an exclusive licence to use the "Russell Hobbs"
trademark for cookware (NB this does not include Russell Hobbs
electrical appliances) and the "Salter" trademark for electrical
and cookware (NB this does not include Salter scales).
For further information, please visit www.upgs.com
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