REG - Stelrad Group PLC - Directorate Change

StelradAnnouncement

22/05/2023 17:00

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RNS Number : 2459A  Stelrad Group PLC  22 May 2023

22 May 2023

 

Stelrad Group plc

Retirement of Chief Financial Officer

 

Stelrad Group plc announces today that after 20 years as Group Chief Financial
Officer, George Letham has informed the Board of his intention to retire.

 

George Letham has informed the Board of his intention to retire from his
position as Chief Financial Officer and Executive Director of the Company and
will step down from the Board before the end of the year. George will continue
in his role until a successor is in place to ensure a smooth transfer of
responsibilities. This aligns with the commitment given at the time of IPO in
2021, with George remaining with the business for a two-year period post
listing to support the Group's transition to a plc.

 

George joined the Group in 2003 and has been instrumental in improving
Stelrad's market position and financial performance. He played a key role in
successfully floating the business on the main market of the London Stock
Exchange in November 2021.

 

Trevor Harvey, CEO of Stelrad, said:

"George is a much-valued colleague and I hold him in the highest regard,
having worked closely together over many years. I want to thank George
personally for everything that he has done for Stelrad; over his tenure he has
contributed a great deal to the growth and to the success of the business.
George will be missed but we wish him a long and happy retirement."

 

George Letham, CFO of Stelrad, said:

"I have had a tremendous career working for Stelrad and am very proud of what
the business has achieved in that time; it has been a privilege to contribute
to its success. The business is performing strongly, and as a long-term
shareholder, I look forward to seeing it continue to grow."

 

Bob Ellis, Chair of Stelrad, said:

"On behalf of the Board, I would like to express our appreciation for George's
contribution and commitment during his time at Stelrad. In particular,
George's role in the recent listing process and in establishing the required
financial governance framework leaves Stelrad in a strong position for future
growth as a public company. We wish George all the very best in his
retirement."

 

The Board has initiated a process with a leading search firm to appoint a
successor and a further announcement will be made in due course. Following the
appointment of his successor, George will remain with the business for a short
period in an advisory capacity to support a smooth transition.

 

This announcement contains inside information.

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