REG - Cake Box Holdings - Board Update

Cake Box HoldingsAnnouncement

30/10/2023 07:15

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RNS Number : 6214R  Cake Box Holdings PLC  30 October 2023

30 October 2023

Cake Box Holdings plc

("Cake Box" or the "Company" or the "Group")

Appointment of Non-Executive Chairman and Senior Independent Director

Further to the announcement on 22 August 2023, Cake Box Holdings plc, the
specialist retailer of fresh cream cakes, is pleased to announce the
appointment of Martin Blair, currently Non-Executive Director, as
Non-Executive Chairman. The appointment of Martin follows a thorough
recruitment process carried out by the Board over the last few months during
which a number of external candidates were interviewed. Martin will succeed
Nilesh ("Neil") Sachdev as Non-Executive Chairman on 31 October 2023 on which
date Neil will formally step down from the Board.

Martin has a deep knowledge of Cake Box and its strategy, having sat on the
Board as an Independent Non-Executive Director and chair of the Audit
Committee, since the Company was admitted to trading on the AIM market of the
London Stock Exchange in June 2018.

Martin is an experienced non-executive director of listed companies, with
strong financial and digital expertise from his board positions at Kape
Technologies plc and t42 IoT Tracking Solutions plc, and his role as CFO of
Pilat Media plc.

The Board has initiated a process to recruit a new independent Non-Executive
Director to chair the Audit Committee and a further announcement will be made
in this regard in due course. Until such time, Martin will continue to chair
the Audit Committee.

The Board has also appointed Adam Batty as the Senior Independent Director.

Sukh Chamdal, Chief Executive Officer, commented:

"On behalf of the Board, I would like to thank Neil for his contribution to
Cake Box. He has been instrumental in the delivery of Cake Box's significant
growth since our IPO more than five years ago, with the store estate almost
tripling during his tenure. Neil had a particular focus on improving diversity
in our business, helping to significantly increase the number of female
franchisees to over 40 today. We wish him all the best for the future.

"Following a thorough process conducted in recent months, I am also delighted
that Martin Blair is stepping up to chair the Cake Box Board. He has a deep
understanding of our business and was the standout candidate among a strong
field to help guide our business through the next stage of our growth."

Martin Blair, commented:

"I am honoured to be taking up the role of Chair of Cake Box. As outlined at
our recent Capital Markets event, there are many exciting growth opportunities
ahead for the business and I look forward to working with the Board and
executive management team to help us to capitalise on these. With an
experienced leadership team and ambitious strategy, I am confident that the
Group will continue to deliver growth for all stakeholders."

For further information, please contact:

 

 Cake Box Holdings plc                   Enquiries via MHP

 Sukh Chamdal, CEO

 Michael Botha, CFO

 Shore Capital (Nomad and Joint Broker)  +44 (0) 20 7408 4090

 Stephane Auton

 Patrick Castle

 Liberum (Joint Broker)                  +44 (0) 20 3100 2000

 Edward Thomas

 Dru Danford

 MHP                                     +44 (0) 7834 623 818

 Charlie Barker                          cakebox@mhpgroup.com

 Robert Collett-Creedy

 Hugo Harris

 

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