REG - Johnson Service Grp. - CFO Retirement and Succession

Johnson ServiceAnnouncement

24/03/2025 07:00

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RNS Number : 8060B  Johnson Service Group PLC  24 March 2025

24 March 2025

AIM: JSG

Johnson Service Group PLC

(the "Company" or "JSG" or "Group")

CFO Retirement and Succession

JSG, a leading textile services provider in the United Kingdom and the
Republic of Ireland, today announces that Yvonne Monaghan, Chief Financial
Officer ('CFO'), has informed the Board of her intention to retire from her
role as CFO and step down from the Board of JSG following more than 40 years
with the Company, including 17 years as CFO.

JSG also announces that, following a rigorous search and selection process, in
conjunction with a leading executive search firm, Ryan Govender has been
selected to succeed Yvonne as CFO. It is anticipated that Ryan will be
appointed an Executive Director and CFO of the Company with effect from 1
October 2025. Yvonne will remain as CFO and a Director of the Company until
the date of Ryan's appointment, at which point Yvonne will then step down as
CFO and as a Director of the Company but shall remain employed by the Company
until 28 February 2026 (the "End Date") to, initially, complete a handover
process with Ryan and, thereafter, be available to support JSG. Yvonne will
then end her employment with the Company and retire on the End Date.

Ryan brings extensive, listed, corporate finance and commercial expertise to
the role at JSG, having worked for over 20 years in senior finance roles
across global FMCG businesses, particularly in the food sector. His diverse
experience includes strategy, FP&A, corporate structuring, M&A, large
capital projects, investor relations and finance transformation. He is
currently CFO at Treatt Plc, a natural extracts and ingredients manufacturer
to the global beverage, flavour, fragrance and consumer goods industries with
operations in the UK, the US and China. Prior to his appointment, in July
2022, as CFO at Treatt Plc, Ryan held several roles with Associated British
Foods ('ABF'), the FTSE 100 international food, ingredient and retail group,
most recently as CFO of SPI Pharma, a provider of innovative solutions to
global pharmaceutical and nutritional customers. Before that, Ryan held
finance and management roles within other ABF businesses, including
Speedibake, Germains Seed Technology and Illovo Sugar. Ryan qualified as a
Chartered Accountant at PwC in South Africa.

Set out in the appendix below are the disclosures required in accordance with
Schedule 2(g) of the AIM Rules for Companies for Ryan Govender, aged 43. The
Group confirms that there are no other disclosures to be made pursuant to
Schedule 2(g) of the AIM Rules for Companies with respect to Ryan Govender.

Peter Egan, Chief Executive Officer, said:

"Yvonne has been an outstanding CFO for JSG and I want to thank her for
everything she has done for the Group and for all the support she has given to
me personally. Yvonne has been instrumental in driving the success of the
Group since her appointment as CFO in 2007 and she leaves us extremely well
positioned for the future.

I am delighted that Ryan will be Yvonne's successor. Ryan is a highly
experienced and commercial CFO with a proven track record of exceptional
delivery. I very much look forward to working with him on the opportunities
ahead."

Jock Lennox, Chair of JSG, said:

"On behalf of the Board I would like to express our sincere appreciation for
the outstanding contribution made by Yvonne during her time at JSG and during
her tenure as CFO. She has played a pivotal role in the Group's success over
many years and can look back on her long career with JSG with immense pride.
Her professionalism in continuing to lead the finance function while we have
been considering succession has been exemplary. We wish her all the very best
in her well-deserved retirement.

After a thorough search process, we are very pleased to have secured Ryan to
succeed Yvonne and work with Peter. Ryan is a CFO of exceptional calibre,
possessing strong finance and commercial experience, gained over many years."

Yvonne Monaghan, said:

"I feel privileged and immensely proud to have had such a varied and
interesting career with JSG. It has been a pleasure to work with my colleagues
and the Group's customers, suppliers and other stakeholders during my time at
JSG. I am delighted that Ryan will succeed me as CFO and I look forward to
working with him on an orderly transition. In the meantime, I remain fully
focused on continuing to execute JSG's strategy and delivering stakeholder
value."

Ryan Govender, said:

"I am thrilled to be joining JSG with its rich heritage of outstanding
customer service, investment in its people, industry leadership position and
impressive sustainability credentials. The Group's businesses are very
well-positioned with great potential to deliver further value to customers and
shareholders. I am excited by the opportunity to build upon these strong
foundations as JSG continues its next phase of development and I look forward
to working closely with Yvonne to ensure a smooth handover."

 

APPENDIX

Current Directorships

Treatt Plc

Treatt Trade (Shanghai) Co., Ltd

Treatt USA, Inc.

R.C. Treatt & Co. Limited

Tulip Propco Ltd

Previous Directorships (within previous 5 years)

Jade Blossom Limited

Speedibike Limited

Govender Limited

 

 ENQUIRIES

 Johnson Service Group PLC
 Peter Egan, CEO
 Yvonne Monaghan, CFO
 Tel: 01928 704 600

 Investec Investment Banking (NOMAD)  Camarco (Financial PR)
 David Flin                           Ginny Pulbrook
 Virginia Bull                        Letaba Rimell

 William Brinkley
 Tel: 020 7597 5970                   Tel: 020 3757 4992/4981
                                      Email: jsg@camarco.co.uk

 

 

 

 

 

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