Hornby PLC Directorate Change (3599Q)
11 September 2017 - 7:01PM
UK Regulatory
TIDMHRN
RNS Number : 3599Q
Hornby PLC
11 September 2017
Hornby plc
("Hornby" or the "Group")
11(th) September 2017
Directorate change
Hornby Plc, the international models and collectibles group,
today announces that following the increase in Phoenix UK Fund's
stake in the business the Group's strategy is under review. As a
result, it has been mutually agreed that Steve Cooke will step down
as CEO at a date to be agreed. Steve will remain as CEO for a
transitional period and an announcement will be made concerning a
new CEO in due course. Steve joined the business as CFO in June
2015 and stepped up to the CEO role in April 2016.
David Adams, Interim Chairman, commented.
"The position of Phoenix as Hornby's majority shareholder
represents a new chapter in the development of the Group and the
Board is working closely with Phoenix to set the direction of the
business going forward. The Board would like to thank Steve Cooke
for his huge contribution to the Group, in particular his
leadership of the first stage of the turnaround that was announced
to the market last year. We are delighted that Steve has agreed to
remain in the post and effect an orderly transition to the
appointment of the new CEO."
Enquiries:
Hornby plc 01843 233500
David Adams, Interim Chairman
David Mulligan, CFO
Liberum 020 3100 2222
Neil Elliot
Neil Patel
Capital Access Group 020 3763 3400
Scott Fulton
This information is provided by RNS
The company news service from the London Stock Exchange
END
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