REG - IG Design Group PLC - Directorate Change

IG DesignAnnouncement

21/02/2022 07:00

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RNS Number : 1967C  IG Design Group PLC  21 February 2022

21 February 2022

 

IG Design Group plc

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

 

Directorate Change

 

 

IG Design Group plc today announces that after 17 years with the Group, and 14
years as Group CEO, Paul Fineman will, for personal reasons, be stepping down
as Group Chief Executive Officer as of 1 March 2022. A search is commencing
for a successor.

 

Executive Board Director Lance Burn who has been with the Group for over 10
years will take on the role of interim Group Chief Operating Officer, leading
the business on a day-to-day basis. This follows his previous role as CEO of
the Group's International Division. Stewart Gilliland, Non-Executive Chairman
will also be taking a more active role with the support of the wider team.

 

The Board is at the final stages of the appointment of the Group's new CFO and
has agreed that Giles Willits will remain with the Group until June 2022.

 

The Group's trading in January was in line with the Company's latest
forecasts, with the business continuing to successfully build its orderbook
for the new financial year. In the USA, Lance in his role as interim Group COO
is now leading the review of the Design Group Americas business, following the
exit of Gideon Schlessinger, DGA Chief Executive Officer.

 

Stewart Gilliland, Non-Executive Chairman, commented:

 

"There is no doubt that Paul's contribution to the Group has been significant;
diversifying the business and strengthening our omni-channel customer
relationships. Paul led the transformation from International Greetings to the
global, diversified business that Design Group is today, with revenues now
approaching $1bn.

 

We would like to thank Paul whole-heartedly for his committed service across
many years and we wish him well for the future."

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU No.
596/2014) which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

 

For further information, please contact:

 

 IG Design Group plc                                       Via Alma PR
 Stewart Gilliland, Non-Executive Chairman
 Giles Willits, Chief Financial Officer

 Canaccord Genuity Limited (Nominated Adviser and Broker)  Tel: 0207 523 8000
 Bobbie Hilliam, NOMAD

 Alex Aylen, Sales

 Alma PR                                                   Tel: 0203 405 0205
 Rebecca Sanders-Hewett

 Susie Hudson

Sam Modlin

 

 

About IG Design Group plc

 

IG Design Group plc, the largest consumer gift packaging business in the
world, is a designer, innovator and manufacturer of products that help people
celebrate life's special occasions. Design Group works with more than 11,000
customers in over 80 countries throughout the UK, Europe, Australia and the
USA.

 

Its products are found in over 210,000 retail outlets, including several of
the world's biggest retailers, for example Walmart, Target, Amazon, Costco,
Lidl and Aldi. Its brand, Tom Smith, also holds the Royal Warrant for the
supply of Christmas crackers and Christmas wrapping paper to the Royal family.
Design Group is a diverse business operating across multiple regions,
categories, seasons and brands.

 

Its five major product categories are: Celebrations, Gifting, Craft &
creative play, Stationery and 'Not-for-resale' consumables. It offers
customers a full end-to-end service from design through to distribution,
offering both branded and bespoke products from the value-focused through to
the higher-margin ends of the market.

 

The Company was admitted to the Alternative Investment Market of the London
Stock Exchange in 1995 under the name 'International Greetings plc' and
rebranded to IG Design Group plc in 2016. For further information please
visit www.thedesigngroup.com.

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