Majestic Wine PLC Board Changes (1254I)
June 15 2017 - 1:01AM
UK Regulatory
TIDMWINE
RNS Number : 1254I
Majestic Wine PLC
15 June 2017
For Immediate Release 15 June 2017
Majestic Wine PLC
("Majestic")
Board Changes
Majestic Wine today announces the following Board changes;
Phil Wrigley has informed the Board that he will retire as
Chairman and step down from the Board at the AGM in August
2017.
Greg Hodder, who was appointed Non-Executive Director on 1
October 2015, will be appointed as Chairman-Designate with
immediate effect, formally taking over as Chairman at the
conclusion of the AGM.
Ian Harding, who was appointed Non-Executive Director on 1 June
2013, will be appointed Senior Independent Director with immediate
effect. Ian will remain Chair of the Audit Committee.
An external search process is now underway to appoint an
additional Non-Executive Director to add further experience to the
Board.
Rowan Gormley, Chief Executive commented:
"Phil has made a tremendous contribution to the future of
Majestic, through his wisdom, decades of retailing experience and
wicked sense of humour. He will be sorely missed. We wish him a
very happy and well deserved retirement.
Greg's extensive retailing and ecommerce experience, along with
his first-hand knowledge of the wine market and the USA, our
biggest growth market, make him the ideal person to take over from
Phil at this stage of the transformation plan.
Ian Harding has retail and corporate governance experience from
his time auditing and working in FTSE 100 companies and the
gravitas to fulfil the role of Senior Non-Executive Director. He
has been heavily involved in developing and communicating the
transformation plan from the start.
We are 18 months into our transformation and are moving out of
the "test and learn phase" of the plan and into the "roll out"
phase. This means we need to recognise Directors with the skills
that can support this next stage. We've got a strong mix of skills
on our Board which will support the Group as we move from a
turnaround to a growth Company."
Phil Wrigley, Chairman said:
"Greg has made a huge contribution in the Board room since
joining two years ago and it is clear to us all that he is an
excellent fit as Chairman. He has a unique combination of
experience and leadership skills that are a perfect fit for
Majestic's transformation.
The Board are well positioned to take the Group to the next
stage of the transformation plan and I believe it is right time for
a new Chairman to oversee its full delivery. It has been a
privilege to be a part of such an important time in Majestic's
history."
For further information, please contact:
Majestic Wine PLC Tel: 01923 298 200
Rowan Gormley, Chief Executive Tel: 07891 206239
Officer gabby.clinkard@majestic.co.uk
James Crawford, Chief Financial
Officer
Gabriella Clinkard, Public & Investor
Relations
Investec (NOMAD & Joint Broker) Tel: 0207 597 5970
Garry Levin / David Flin / David
Anderson/Carlton Nelson
Liberum (Joint Broker) Tel: 020 3100 2222
Peter Tracey / Anna Hartropp /
Richard Bootle
Instinctif Partners (PR Agency) Tel: 0207 457 2020
Damian Reece
About the directors:
Phil Wrigley joined Majestic as Chairman in 2010. During his
tenure the business has undergone a significant transformation from
a largely UK store based retailer to an international business with
significant and fast growing ecommerce operations in the USA, UK
and Australia. Under his leadership Naked Wines was acquired in
2015 and the Board significantly strengthened with the necessary
retailing, strategic and governance skills to lead the successful
completion of the transformation plan.
Greg Hodder joined Majestic as Non-Executive Director in 2015.
Greg has worked in retail for 30 years including nine years as CEO
of Charles Tyrwhitt Shirts Ltd, 14 years as CEO of Direct Wines
(owner of Laithwaites) and four years as President for Smallbone
USA, the kitchen and home designer.
Ian Harding joined Majestic as Non-Executive Director and
Chairman of the Audit Committee in 2013. He is a Chartered
Accountant and spent 16 years in various finance and auditing roles
at PwC, Superdrug PLC and Kingfisher PLC. In 2001 he became
Kingfisher's Investor Relations Director and went on to hold
several senior roles on the executive committee including
Communications Director and latterly Special Advisor to the
Board.
About Majestic Wine PLC:
Majestic Wine PLC is a leading wine specialist, operating in
four separate divisions, each with the fundamental goal of
delivering sustained growth in shareholder value by doing the right
thing for the Group's customers, suppliers and people:
--Majestic Retail - The UK's largest specialist wine retailer,
with 210 branches in the UK and two in France. We help people find
the wines they will love through over 900 highly trained,
specialist store team members. Sales for the year ended 3 April
2017 were GBP262.2m.
--Naked Wines - Funds independent winemakers to make exclusive
wines at preferential prices which we pass onto our customers.
Naked Wines currently has 159 winemakers in 16 countries and
320,000 Mature Angels (Customers). Sales for the full year ended 3
April 2017 were GBP144.3m.
--Majestic Commercial - A specialist on-trade supplier who aims
to support businesses to make their wine lists more profitable,
with the unique advantage of running their supply chain through
Majestic Retail stores. Sales for the year ended 3 April 2017 were
GBP47.0m.
--Lay and Wheeler - A specialist fine wine merchant. Lay &
Wheeler aims to be a trusted guide for people who love fine wine,
supplying the world's finest wines with a personal service. Sales
for the year ended 3 April 2017 were GBP14.7m.
This information is provided by RNS
The company news service from the London Stock Exchange
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