8
February 2024
Ultimate
Products plc
("Ultimate Products", or "the Group")
MANAGEMENT
CHANGE
Ultimate Products, the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, est.1760) and Beldray (est.1872), is pleased to
announce the appointment today of Andrew
Gossage as Chief Executive Officer. Andrew is taking over from
Simon Showman, the Group's founder, who will remain on the Board as
Chief Commercial Officer.
Andrew joined Ultimate Products in
2005, initially as Finance Director before being promoted to
Managing Director in 2014. Since then, he has been responsible for
the Group's strategy as well as overseeing its operational
functions and online business. Andrew is a chartered accountant and
started his career with Arthur Andersen, after which he was the
Finance Director & General Manager of Mersey
Television.
Simon founded Ultimate Products in
1997 and has led the Group ever since. As Chief Commercial Officer,
he will continue to oversee the Group's commercial functions
including sales, buying and product development.
Simon Showman, Founder and Chief Commercial Officer of
Ultimate Products, said:
"I
am delighted that Andrew has agreed to step into the role of CEO
and, having run the business with him for nearly 20 years, I am
confident that he will do an exceptional job in leading Ultimate
Products into the next phase of its growth
journey.
For my own part, I am very excited to be taking on the new
role of Chief Commercial Officer, which will allow me to focus on
the elements of the job that I relish the most, including business
development, product development and managing key retailer
relationships. I am particularly looking forward to spending more
time with our customers in the UK and internationally, building the
longstanding and strategic partnerships necessary to drive Ultimate
Products' future growth."
Andrew Gossage, Chief Executive Officer of Ultimate Products,
said:
"It is a huge honour to take on the role of CEO. I am looking
forward to continuing to work with Simon and the rest of our
excellent team to build on our current capabilities with the
ambition of making Ultimate Products the world's best branded
consumer goods business. Our strategy remains unchanged, which is
to create beautiful and more sustainable products for every home
and pursue growth via the online, supermarket and discount channels
both here in the UK and internationally."
For more information, please
contact:
Ultimate Products +44 (0) 161 627
1400
Andrew Gossage, CEO
Simon Showman, CCO
Chris Dent, CFO
Shore Capital +44 (0) 20 7408
4090
Mark Percy
Malachy McEntyre
David Coaten
Iain Sexton
Isobel Jones
Cavendish Capital Markets Limited +
44 (0)20 7220 0500
Carl Holmes (Corporate
Finance)
Matt Goode (Corporate
Finance)
Abigail Kelly (Corporate
Finance)
Charlie Combe (ECM)
Powerscourt +44 (0) 207 250
1446
Rob Greening
Sam Austrums
Oliver Banks
Notes to Editors
Ultimate Products is the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, established in 1760) and Beldray (a laundry, floor
care, heating and cooling brand that was established in 1872).
According to its market research, nearly 80% of UK households own
at least one of the Group's products.
Ultimate Products sells to over 300
retailers across 38 countries, and specialises in five product
categories: Small Domestic Appliances; Housewares; Laundry; Audio;
and Heating and Cooling. Other brands include Progress (cookware
and bakeware), Kleeneze (laundry and floorcare), Petra (small
domestic appliances) and Intempo (audio).
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
employs over 370 staff, a significant number of whom have joined
via the Group's graduate development scheme, and 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 Paris, France.
Please note that Ultimate Products
is not the owner of Russell Hobbs. The company currently has
licence agreements in place granting it an exclusive licence to use
the "Russell Hobbs" trademark for cookware and laundry (NB this
does not include Russell Hobbs electrical appliances).
For further information, please
visit www.upplc.com.