REG - Nichols PLC - Appointment of CFO and NED Change

NicholsAnnouncement

25/10/2023 07:15

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RNS Number : 1595R  Nichols PLC  25 October 2023

25 October 2023

Nichols plc

(the "Company" or "Group')

Appointment of Chief Financial Officer and Non-Executive Director Change

 

Nichols plc, the diversified soft drinks group, announces the following
changes to its Board.

Appointment of CFO

The Group is pleased to announce that Richard Newman will join the Board as a
Director with effect from 29 January 2024 before becoming Chief Financial
Officer (CFO) and Company Secretary in March 2024 following the publication of
the Group's Preliminary Results for the year to 31 December 2023. David
Taylor, who is currently acting as Interim CFO and Company Secretary, will
step down from the Board at the same time in March following a smooth
transition of responsibilities.

Richard brings extensive and relevant UK public company financial experience
having held a number of senior plc roles and most recently, between 2021 and
2023, as CFO at AIM-listed Accrol Group Holdings Plc.

Richard joined Cadbury plc in 1996 progressing to Finance and IT Director for
Ireland and then Group Financial Controller. After 15 years with Cadbury, he
took a new role as Divisional Finance Director at National Express Group plc
before joining DS Smith plc in 2015 as UK Finance Director for Packaging.
Richard is a member of the Institute of Chartered Accountants in England and
Wales, having qualified with PwC in 1993.

Non-Executive Director Change

After 18 successful years with Nichols, both in executive positions and as a
Non-Executive Director, James Nichols has decided that he wishes to pursue a
fresh challenge and will leave the Board and the business with effect from 24
October 2023.

It is expected that a new representative of the Nichols family will be
appointed as a Non-Executive Director in due course, pursuant to the terms of
the Relationship Agreement between Nichols plc and the Nichols family which
entitles the family to two Non-Executive Board positions (assuming an
aggregate of interest by the Nichols family of equal to or greater than 30 per
cent of the issued ordinary share capital of the Company).

Liz McMeikan, Non-Executive Chair, commented:

"On behalf of the Board I would like to thank James for his significant
contribution over the past 18 years and we wish him well and every success for
the future.

Following a thorough search process, we are delighted that Richard will be
joining the business and the Board next year. Richard brings a wealth of
highly relevant experience to the Group and I have every confidence that he
will make a substantial contribution to the Group's continued development and
growth."

The following disclosures are required regarding Richard Newman's appointment
pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies (the
"AIM Rules").

Richard Newman

Richard Hugh Newman (aged 54) is currently, or has during the past five years
been, a director of the following companies:

 Current directorships or partnerships  Previous directorships or partnerships
 ·      n/a                             ·      DS Smith Corrugated Packaging Limited

                                        ·      DS Smith Packaging Limited

                                        ·      Accrol Group Holdings plc

                                        ·      Accrol Holdings Limited

                                        ·      Accrol Papers Limited

                                        ·      Accrol UK Limited

                                        ·      ART Tissue Limited

                                        ·      Leicester Tissue Company Limited

                                        ·      LTC Parent Limited

                                        ·      John Dale Limited

                                        ·      John Dale (Holdings) Limited

                                        ·      TRM Packaging Limited

                                        ·      Creo Property Limited

                                        ·      Creo Retail Marketing Holdings Limited

                                        ·      Creo Retail Marketing Limited

 

Save as set out above, there are no further information to be disclosed in
accordance with Schedule Two paragraph (g) of the AIM Rules.

Contacts

Nichols plc                                       Telephone: 0192 522 2222

 Andrew Milne, Group Chief Executive Officer

 David Taylor, Interim Chief Financial Officer

 Singer Capital Markets (NOMAD & Broker)           Telephone: 0207 496 3000

 Steve Pearce / Jen Boorer                         Website: www.singercm.com (http://www.singercm.com/)

 Hudson Sandler (Financial PR)                     Telephone: 0207 796 4133

 Alex Brennan / Charlotte Cobb / Harry Griffiths   Email: nichols@hudsonsandler.com (mailto:nichols@hudsonsandler.com)

 

 Notes to Editors:

 Nichols plc is an international diversified soft drinks business with sales in
 over 73 countries. The Group is home to the iconic Vimto brand which is
 popular in the UK and around the world, particularly in the Middle
 East and Africa. Other brands in its portfolio include SLUSH PUPPiE,
 Starslush, ICEE, Levi Roots and Sunkist.

 For more information about Nichols, visit: www.nicholsplc.co.uk
 (http://www.nicholsplc.co.uk/)

 

Notes to Editors:

Nichols plc is an international diversified soft drinks business with sales in
over 73 countries. The Group is home to the iconic Vimto brand which is
popular in the UK and around the world, particularly in the Middle
East and Africa. Other brands in its portfolio include SLUSH PUPPiE,
Starslush, ICEE, Levi Roots and Sunkist.

For more information about Nichols, visit: www.nicholsplc.co.uk
(http://www.nicholsplc.co.uk/)

 

 

 

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