Hornby PLC Directorate Change (4686Z)
15 December 2017 - 6:00PM
UK Regulatory
TIDMHRN
RNS Number : 4686Z
Hornby PLC
15 December 2017
Hornby PLC
("Hornby" or the "Group")
15 December 2017
Board Changes
Hornby Plc, the international models and collectibles group,
today announces the following changes to the Board.
As previously announced, David Adams; Interim Chairman, planned
to step down from the Board to take up another appointment. It has
been agreed that David will now formally step down from the board
on 31 December 2017. At this point, Lyndon Davies, the CEO of the
Group, will become Interim Executive Chairman and CEO while the
search for an Independent Non-Executive Chairman continues.
Following the recent strategy review and the successful
completion of the refinancing, it has been mutually agreed that
David Mulligan, currently CFO and company secretary, will step down
from the Board on 31 December 2017.
The Group is pleased to announce that Kirstie Gould will join
the Board as CFO and company secretary. Kirstie has spent over 2
years with Hornby and will be stepping up from her current role as
a consultant in the finance department. Kirstie qualified as a
chartered accountant with PricewaterhouseCoopers in 1997 and since
then has held senior management and directorship roles across a
number of high growth SME firms including Affini Technology Limited
(part of the TTG Group) and Gamma Communications plc.
The Board also intends to appoint John Stansfield as an
independent non-executive director. John is a qualified accountant
and spent 31 years with the Group, completing 12 years as Group
Finance Director. John helped deliver some of the Group's most
profitable years and has a wealth of experience in the toy and
hobby sectors.
Kirstie and John will be formally appointed to the Board
following satisfactory completion of the customary due diligence
for listed company board appointments. A further announcement
confirming their appointments will be made in due course.
Martin George, Senior Independent Director, commented.
"The Board would like to thank David Adams for his contribution
to the Group over the past four years and his recent leadership as
Chairman. I would also like to thank David Mulligan for his
commitment over the past 18 months during a period of significant
change for the business and for his successful delivery of the
recent equity fund raising and bank refinancing. Both leave Hornby
with our very best wishes for their respective futures.
The Board is delighted to welcome John and Kirstie to the Board
and look forward to their contribution to the next stage of the
turnaround process."
Enquiries:
Hornby plc 01843 233500
Lyndon Davies, CEO
Liberum 020 3100 2222
Neil Elliot
Neil Patel
Capital Access Group 020 3763 3400
Scott Fulton
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact Lyndon Davies,
CEO of the Company (responsible for arranging release of this
announcement) on 01843 233 500.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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