Board Changes
01/12/2022 07:00
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RNS Number : 1395I Unbound Group PLC 01 December 2022
1 December 2022
Unbound Group plc
("Unbound Group" or the "Company")
Board Changes
Unbound Group plc announces the appointment of Alastair Miller to the
Company's board as an Independent Non-Executive Director with immediate
effect.
Alastair Miller brings significant experience of retail businesses and an
excellent understanding of the dynamics of e-commerce and AIM-listed
businesses. He is currently a Non-Executive Director and Chairman of the Audit
Committee at Superdry PLC. Alastair was Chief Financial Officer at New Look
from 2000 until 2014, which he joined from RAC Ltd where he was Group Finance
Director. Alastair is also currently a Non-Executive Director of NewRiver REIT
plc.
Alastair Miller will be appointed Chair of the Company's Audit and Risk
Committee and become a member of the Remuneration Committee and the
Nominations Committee, with effect from 31 December 2022.
Following Gavin Manson's transition to an executive role as Chief Financial
Officer, as announced on 6 September 2022, the number of Independent
Non-Executive Directors will reduce from three to two with effect from 31
December 2022. As such, current Independent Non-Executive Directors, Paul
Goodson and Suki Thompson, will be stepping down from the Board on 31 December
2022.
The Board believes these changes reflect a more appropriate balance in light
of the future needs of the business.
Neil Johnson, Chair of the Board, commented:
"I am delighted to welcome Alastair Miller to the Board. His recent and
relevant expertise and proven abilities will further strengthen governance and
will add significant strategic value to the Board and the Group. I should also
like particularly to thank Paul Goodson and Suki Thompson who will be leaving
the Board at the end of December. Paul has made a major contribution to the
Board's effectiveness over the past 6 years both at Electra Private Equity Plc
and at Unbound Group. More recently, Suki has been a visionary support as the
Unbound Group business model was created. We wish them all best wishes in the
future.
The Board restructure and streamlining forms part of our wider focus on costs
across the business."
Board composition - summary:
Following the above changes and with effect from 31 December 2022, the members
of the board will comprise:
· Neil Johnson, Chair
· Ian Watson, Chief Executive Officer
· Gavin Manson, Chief Financial Officer
· Alastair Miller, Independent Non-Executive Director
· Baroness Kate Rock, Independent Non-Executive Director
Also with effect from 31 December 2022, members of the Board committees will
be as follows:
· Audit and Risk Committee: Alastair Miller as Chair and Baroness Kate
Rock as the other member;
· Remuneration Committee: Baroness Kate Rock as Chair and Alastair
Miller as the other member; and
· Nominations Committee: Neil Johnson as Chair and Baroness Kate Rock
and Alastair Miller as the other members.
ENDS
Enquiries
Unbound Group plc
Ian Watson
020 3874 8300
Singer Capital Markets
Peter Steel / Tom Salvesen / Alaina Wong / Kailey Aliyar
020 7496 3000
Vico Partners
Sofia Newitt
snewitt@vicopartners.com
020 3957 5045
Appendix: disclosures required pursuant to AIM Rule 17 and paragraph (g) of
Schedule Two of the AIM Rules for Companies
Alastair Miller (aged 64) is currently, or has during the past five years
been, a director of the following companies:
Current directorships or partnerships Previous directorships or partnerships
· Lilliput Health Limited N/A
· NewRiver REIT Plc
· Superdry Plc
· Total Therapy Bournemouth Ltd
· Total Therapy Poole Ltd
· Total Therapy Ringwood Ltd
· Westview Capital Limited
As of the date of this announcement, Alastair Miller holds no ordinary shares
in the capital of the Company.
Save as set out in this announcement, there are no further details to be
disclosed in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of
the AIM Rules for Companies.
Notes to Editors
Unbound Group plc
Unbound Group plc is the parent company for a group selling a range of brands
focused on the 55+ demographic. Unbound Group will build on the solid
foundation of Hotter Shoes, its current main business, to grow value through
its curated, multi-brand retail platform supporting the active lifestyles of
the 55+ demographic with a range of products and services. Unbound Group's
platform is powered by Mirakl's leading marketplace technology to enable the
Group to partner seamlessly with selected third-party brands, on a drop ship
model while negating the need to invest in working capital. Unbound Group's
expanded offering beyond footwear will feature a broad range of active
lifestyle products and services, with third-party complementary brands
featuring alongside new Unbound Group brands, as well as Hotter.
Hotter Shoes
Hotter Shoes, an Unbound Group plc company, is one of the UK's leading
specialist footwear brands, selling over 1.4 million pairs of shoes per year.
Hotter's footwear has an uncompromising focus on 'customised comfort' and
perfect fit through the use of its differentiating technology, including its
e-commerce platform, 3D foot scanner and augmented reality app which enables
the consumer to try products virtually from home. Hotter has been transformed
from a retail to a digitally led, omni-channel business over the past 3 years,
selling its footwear to over 4 million customers via online, its direct mail
order channel and its targeted 17 Technology Centres and 8 garden centre
concessions in the UK. Over 75% of sales are direct to consumer through
digital channels. With its clearly defined, large and growing target
demographic, Hotter now reaches 29% of the female population in the UK over
the age of 55. Digital partnerships have recently been established with
several online retailers including Next, John Lewis, The Very Group and
M&S.
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