REG - Brickability Group - Chief Executive Officer Succession

BrickabilityAnnouncement

26/05/2023 07:00

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RNS Number : 7283A  Brickability Group PLC  26 May 2023

26 May 2023

Brickability Group plc

 

("Brickability", the "Group" or the "Company")

 

Chief Executive Officer Succession

 

Brickability Group plc (AIM: BRCK), the leading construction materials
distributor, announces that Alan Simpson, Chief Executive Officer and founder
of many of the Group's businesses, has notified the Board of his future
intention to retire from the role of CEO and to step down as a director of the
Company. Alan will remain with the Group in a senior capacity and as a
significant Brickability shareholder.

 

Alan will be succeeded as Chief Executive Officer by Frank Hanna, currently
Joint Chief Executive Officer of Michelmersh Brick Holdings plc, who will join
the Board of Brickability as Chief Executive Designate in due course.

 

Alan has overseen the significant growth of Brickability, having been a
director of Brickability since 1996 and as CEO following the 2016 management
buyout of the Group. Alan has been instrumental in the Group's growth,
overseeing its IPO in 2019 and multiple acquisitions since. Alan will remain
in the role of CEO until Frank Hanna's appointment with the Company becomes
effective and, to ensure a smooth transition of responsibilities, will
continue as CEO until an orderly handover period of not less than 3 months has
been completed, upon which Alan will step down from the role of CEO and his
Board position but remain with the Group.

 

Frank Hanna is a prominent figure in the UK brick industry with over 33 years
of experience. Frank spent 19 years with Freshfield Lane Brickworks, where he
was a shareholder and director, helping to transform that business into
Europe's largest clamp process brick plant prior to its sale to Michelmersh
Brick Holdings plc in 2010.

 

Frank joined the Board of Michelmersh on the completion of Freshfield Lane's
sale and later became Joint-CEO of the Michelmersh Brick Holdings plc in 2016.
Under his management, Michelmersh has expanded through strategic acquisitions
to increase production output from 70 million to 122 million clay bricks and
pavers per annum, broadened its product range and built its reputation as the
industry's specialist manufacturer of premium brick products.

 

Frank has also previously chaired both the Brick Federation and the
Promotional Working Party at the Brick Development Association, where he is
currently a main board member.

 

A further announcement, in connection with Frank Hanna's intended appointment
to the Board, will be made in due course.

 

John Richards, Chairman of Brickability Group plc, said:

 

"Alan has been instrumental in building Brickability into the business it is
today. Alan has overseen monumental growth, navigating the business through
many cycles and challenges, and has imprinted an entrepreneurial and
collegiate spirit on the Group which has been a key to its success. Alan
remains a major shareholder of the Group, is committed to ensure a smooth
transition and will continue to work with the Group post his stepping down. On
behalf of the Board, I thank Alan and congratulate him for his immense
achievements.

 

"I am delighted to welcome Frank to the Brickability family. Having known
Frank for a long time, he brings a wealth of experience and is the perfect
person to lead the Group as it continues to grow."

 

Alan Simpson, Chief Executive Officer, said:

 

"Leading the Brickability business has been a great honour and I have
continued to enjoy the challenges and rewarding experiences throughout. The
business is exceptionally well placed within the market, and I look forward to
continuing with the Group in a non-board role post-handover. Frank is an
exceptional operator, manager and leader, and I look forward to working with
him in future years to continue to grow the Brickability business."

 

This announcement contains inside information.

 

Enquiries:

 

 Brickability Group plc                                    via Montfort Communications

 John Richards, Chairman

 Alan Simpson, CEO

 Mike Gant, CFO

  
 Cenkos Securities plc (Nominated adviser and broker)      +44 (0) 207 397 8900

 Ben Jeynes, Max Gould (Corporate Finance)

 Julian Morse, Alex Pollen (Sales)

  
 Montfort Communications (Financial PR)                     +44 (0) 203 514 0897

 James Olley                                               brickability@montfort.london

 Ella Henderson

 

About Brickability

Brickability is a leading construction materials distributor, serving
customers across the UK and Europe for over 37 years through its national and
local networks. The Group supplies over 550m bricks annually and has over 55
locations across the country with over 700 employees.

 

 

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