Stelrad Group PLC Directorate Change (2459A)
May 22 2023 - 11:49AM
UK Regulatory
TIDMSRAD
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.
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END
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