REG - Angling Direct PLC - CFO Appointment and Board Succession Update

Angling DirectAnnouncement

16/05/2023 07:00

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RNS Number : 4687Z  Angling Direct PLC  16 May 2023

16 May 2023

 

Angling Direct plc

("Angling Direct", the "Company" or the "Group")

 

CFO Appointment and Board Succession Update

 

Angling Direct plc (AIM: ANG), the leading omni-channel specialist fishing
tackle and equipment retailer, is pleased to announce the appointment of Sam
Copeman as Group Chief Financial Officer ("CFO"). Sam will join Angling Direct
on 5 June 2023 and will join the Board on conclusion of the Company's Annual
General Meeting on 22 June 2023. Simultaneously, Angling Direct's Board
Succession Plan will be enacted, encompassing the following changes:

 

·    Andy Torrance will step down from his role as Chief Executive Officer
("CEO") and move to Non-executive Chairman;

·    Steve Crowe, Angling Direct's current CFO, will replace Andy and be
appointed CEO; and

·    Martyn Page, will step down from his role as Non-executive Chairman
and will remain on the Board as a Non-executive Director.

 

Sam is an experienced CFO and most recently led the trade sale of Esportif,
the global sports consultancy with a presence in the UK, France, South Africa,
Japan, Australia and New Zealand, to Wasserman, the global sports, music, and
entertainment agency. Prior to this, Sam held senior finance roles across a
variety of industries within private equity and privately owned businesses and
has a track record of creating shareholder value through the development and
execution of ambitious strategic plans, delivering growth and leading
successful shareholder exits.

 

Andy Torrance, CEO of Angling Direct commented:

"It's exciting to announce the appointment of Sam to the role of CFO as we
execute on the Board Succession Plan we outlined earlier this year. I believe
that Steve and Sam are the right team to lead Angling Direct on its growth
journey and I look forward to working with in my new Chair role."

 

Steve Crowe, CEO designate of Angling Direct commented:

"I am pleased that Sam is joining Angling Direct to take over from me as CFO
as I make the transition to CEO. I am confident that having met a number of
high profile candidates, Sam is the right person for the job and that his
experience across a variety of senior finance roles will be complementary as
we work together with Andy and the Board to deliver the next phase of growth."

 

Sam Copeman, incoming CFO said:

"I am thrilled to be joining Angling Direct at this exciting time in the
Company's growth journey. I look forward to working with Steve and Andy to
deliver on the Group's strategic objectives both in the UK and Europe."

 

Information regarding the appointment of Sam Copeman as required under Rule 17
and Schedule 2(g) of the AIM Rules for Companies will be announced at the time
that Sam joins the Board of the Company on 22 June 2023.

 

 

For further information please contact:

 

 Angling Direct plc                         via FTI Consulting
 Andy Torrance, Chief Executive Officer

 Steven Crowe, Chief Financial Officer

 Singer Capital Markets - NOMAD and Broker  +44 (0) 20 7496 3000
 Peter Steel (Corporate Finance)

 Alex Bond (Corporate Finance)

 Tom Salvesen (Corporate Broking)

 FTI Consulting - Financial PR              +44 (0) 20 3727 1000
 Alex Beagley                               anglingdirect@fticonsulting.com (mailto:anglingdirect@fticonsulting.com)

 Sam Macpherson

 Alice Newlyn

 

About Angling Direct

 

Angling Direct is the leading omni-channel specialist fishing tackle retailer
in the UK. The Company sells fishing tackle products and related equipment
through its network of retail stores, located strategically throughout the UK
as well as through its leading digital platform (www.anglingdirect.co.uk
(https://www.anglingdirect.co.uk/) .de, .fr, .nl and .eu) and other
third-party websites.

 

Angling Direct is committed to supporting its active customer base and
widening access to the angling community through its passionate colleagues,
store-based qualified coaches, social media reach and ADTV YouTube
(https://www.youtube.com/channel/UCOenrSpp_3DpdT14EBrPkWA) channel. The
Company currently sells over 28,000 fishing tackle products, including capital
items, consumables, luggage and clothing. Angling Direct also owns and sells
fishing tackle products under its own brand 'Advanta', which was formally
launched in March 2016.

 

From 1986 to 2002, the Company's founders acquired interests in a number of
small independent fishing tackle shops in Norfolk and, in 2002, they acquired
a significant premise in Norwich, which was branded Angling Direct. Since
2002, the Company has continued to acquire or open new stores, taking the
total number up to 46 retail stores. In 2015, the Company opened a 2,800 sq.
metres central distribution centre in Rackheath, Norfolk, where the Company's
head office is also located. In January 2022 Angling Direct acquired an
additional 3,900 sq. metres distribution centre in Venlo, Netherlands to
service its established, and rapidly growing, presence in Europe with native
language websites set up in key regions to address demand.

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